when the bank's charter expired in 1836 it was a key factor in the resulting bank war.
when the bank's charter expired in 1836 it was a key factor in the resulting?
bank war
fearing economic reprisals from biddle, jackson moved swiftly to remove the bank's federal deposits. in 1833, he succeeded in distributing these funds to several dozen state banks throughout the country. the new whig party emerged in opposition to his perceived abuse of executive power, officially censuring jackson in the senate. in an effort to promote sympathy for the institution’s survival, biddle retaliated by contracting bank credit, inducing a mild financial downturn. a reaction set in throughout america’s financial and business centers against biddle’s maneuvers, compelling the bank to reverse its tight money policies. by the close of 1834, the prospects of a new bank charter had dimmed considerably. rather than permitting the bank to go out of existence, biddle arranged its conversion to a state chartered corporation in pennsylvania just weeks before its federal charter expired in march 1836, and it closed its doors in 1841. the economy did extremely well during jackson's time as president, but his economic policies, including his war against the bank, are sometimes blamed for contributing to the panic of 1837.
bank war
the second objection is that london was only incorporated under its 1836 charter "during our royal will and pleasure". sources give two differing interpretations on what this meant, with some saying the charter expired on the death of william iv, and others that it may never have been valid but if it were it would have expired 6 months after the king's death. it was re-incorporated by a second royal charter on 5 december 1837 (postdating the royal charters of the other three contenders). this date is sometimes given in victorian sources as the founding of the university, and is the date used as the date of creation in the supplemental charter of 1850 and the charters of 1858 and 1863. it is notable that while the 1863 corporation was made the legal successor to the 1858 corporation in its charter, and the 1858 corporation was made the legal successor to the 1837 corporation, the 1837 corporation was not made the legal heir to the 1836 corporation. however, the privileges granted to the university of london under the attorneys and solicitors act 1837, made in july between victoria's accession and the sealing of london's second charter, appear to have been applied to the subsequent legal corporations without any need for renewal, indicating that there may have been an implied inheritance of legal status.
third-oldest university in england debate