that. They saw that as an alien evolution. This could not last. Therefore, when Jackson came in, he wrecked the bank in a sense and created a new financial system to support the geopolitical reality that had emerged. It was a new one. The reason I ask is because I'm only superficially familiar with this period in American history. I know Jackson refused to renew the charter and that this led to the era known as Wildcat Banking or Free Banking, which eventually came to an end with the passage of the National Banking Act during the Civil War. That laid the groundwork for a national currency backed by government bonds and the eventual passage of the Federal Reserve Act in 1913. But how was that period of free banking essential in facilitating the movement of capital from the East and from supporting transatlantic trade toward the West and Westward expansion? Well, one thing was obvious. The West was wonderful country, agricultural country, tremendous opportunities. Entrepreneurs wanted to (38/44)
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