Many Americans were suspicious of the Second Bank of the United States for the following reason: c. They believed that it was controlled by a commercial elite.
The Second National Bank of the United States of America is sometimes referred to as Second Bank of the United States and it was established and chartered by the US Congress in 1816 after the charter of the First Bank of the United States had expired.
On the 10th of September, 1833, President Andrew Jackson officially announced that the federal government would no longer use or require the services of the Second National Bank of the United States of America because himself and many Americans believed depositing government funds in the National Bank would put too much power in the hands of very few commercial elites, who are private citizens.
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