The
Second Bank of the United States was founded in
1816, five years
after the expiration of the
First Bank of the United States and the chaos that ensued. This second bank was patterned after the first. However, renewal of the Second Bank of the United States was vetoed in
1832 by
Andrew Jackson, so it declined until
1836.
Henry Clay and
Nicholas Biddle[?] had made the Bank a campaign issue.
The legality of the Bank was upheld in the 1819 Supreme Court case McCulloch v. Maryland which also declared null and void any state law contrary to a federal law made in pursuance of the Constitution.