3 Reasons Why Andrew Jackson Should Not Be On The $20 Bill
Andrew Jackson’s face is on the American $20 bill. He is considered one of the great US presidents. Yet his presidential decisions destroyed or – in some cases – ended thousands of innocent lives.
circa 1844: Andrew Jackson (1767 – 1845), the 7th President of the United States of America. (Photo by Library Of Congress/Getty Images) Library of Congress Getty Images via Fortune.com
Andrew Jackson was a tough, passionate man: as a 13-year-old hostage during the Revolutionary War he refused to polish the boots of a British soldier, who slashed Jackson’s face as punishment – leaving life-lasting scars; and as a 47-year-old General, he scored a famous victory against Britain at the Battle of New Orleans. When he was elected president at the age of 61, Jackson was considered an American hero. He entered the White House on a wave of popularity.
Nevertheless, “Old Hickory,” as he became to be known, stained his legacy with reckless decisions, and his greatest war triumph at New Orleans is politically meaningless.
1. Battle of New Orleans, War of 1812, January 1815.
General Jackson gained nationwide popularity when he led an American army to victory over Britain at the Battle of New Orleans in January 1815.
However, unknown to Jackson, the War of 1812 ended weeks before the Battle of New Orleans even started, when delegates from Britain and the USA signed a peace treaty in Ghent on 24th December 1814. Jackson’s success, therefore, was politically insignificant: no land was won or lost, nothing was gained. The Treaty of Ghent symbolized an end to the fighting. Even a victorious British army would have been forced to return home. Fighting only continued because news of the peace treaty traveled slowly across the Atlantic. [4]
Jackson’s romanticized success is often viewed as a landmark victory over the oppressive British. In reality, the war ended in a stalemate.
Jackson triumphant at the Battle of New Orleans. Image found at history.com
2. The Trail of Tears, 1830s.
In 1830, Jackson ignored a Supreme Court ruling to sign into law the Indian Removal Act, forcing native people to lands in the West, away from their homes east of the Mississippi river.
The reason: Gold.
Gold had been found on Cherokee land, and Jackson wanted it. The president’s excuse for removal – claiming the Cherokees had violated the constitution by declaring their own state without approval – was a smokescreen.
The native Americans were eventually forced to march 800 miles west. From the 47,000 southeastern Indians that were uprooted, it is estimated that 1 in 4 died from either exhaustion or starvation on what is now called The Trail of Tears. Jackson acquired more than one hundred million acres of land. [1]
The Indian Removal Act was genocide.
Yet – I repeat: Andrew Jackson’s face is on the $20 bill.
The Trail of Tears. Image found at revcom.us
3. Abolishing the Second Bank of the Unites States, 1830s.
At the time of Jackson’s inauguration in 1829, the Second Bank of the United States controlled all the country’s finances.
By 1830, its holdings of $35 million amounted to twice the annual expenses of the federal government. [1]
The National Bank provided financial security to the population.
Nevertheless, Jackson despised the National Bank and all of its branches. He wanted to provide fiscal independence for each state, rather than have a national banking system with full control. Jackson thought the national system created financial disparity among social classes. [1]
In 1832, Jackson abolished the National Bank without Congress’s approval. Nicholas Biddle, the Bank’s president, called this “a manifesto of anarchy.” The Senate could not override Jackson’s veto; the Bank of America was denationalized. [1]
Consequently, states began printing their own money, producing over 1,200 different kinds of bills. This caused an imbalance between coins and paper money: American banks only held $10.5 million in gold, compared with $140 million in paper money. As a result, coins became more valuable than paper; and when Jackson ordered that government land could only be bought with coins, bills became almost worthless. [1] (Jackson’s dislike of paper money is particularly amusing since his face is now printed on it.)
Americans became desperate to rid themselves of paper money, but state banks did not have enough coins to meet the demand for paper-to-coin exchanges. Thousands were left stranded with their devalued paper money savings. Inevitably, bankruptcy engulfed the nation. [3]
This is known as the Panic of 1837.
Despite Jackson causing it, the Panic of 1837 struck a year after he left the White House. Jackson’s successor, Martin Van Buren, took criticism for the ordeal and ultimately lost his presidency after one term due to Jackson’s catastrophic banking decision.
Andrew Jackson’s presidency ended after 8 controversial years. Old Hickory, labeled “King Andrew” by his critics, gained enemies due to his autocracy. Jackson believed in absolute presidential power. Ironically, he represented something America had previously fought Britain to escape from – tyranny.
Further Reading and Listening
I must make it clear that all views I expressed in this piece were my own. My views were not influenced at all by the following sources, which I used to help me construct this article:
1.
These Truths: A History Of The United States, by Jill Lepore
A marvellously thorough history of America; much of my information came from this book. I would highly recommend it for anybody interested in American History.
2.
The Washington Post: Presidential, by Lillian Cunnigham
Excellent podcasts on each US president. Very informative and brilliantly hosted.
3.
American Elections: Wicked Game, a podcast by Wondery
A gripping podcast series detailing every US presidential election.
4.
A fantastic starting place for anybody interested in history.
