These buildings, known as Bankers Row, are across from the Second Bank of the United States. This financial center is sometimes called "America's first Wall Street." At the underestimation of the power of a strong and popular President caused his downfall and the demise of the financial institution he commanded.
Jackson had been financially damaged by speculation and a tightening of bank credit early in his business career. He retained a distrust of financial institutions throughout his life. At first, however, Jackson's position on the Bank was not outwardly antagonistic. He was concerned about the Bank's constitutionality and the general soundness of paper money in place of gold and silver ("HARD MONEY"). Jackson was also sympathetic to "SOFT-MONEY" supporters from the west who wanted access to easy CREDIT
In January 1832, Biddle's supporters in Congress, principally Daniel Webster and