Privately, Jackson expressed opposition to the Bank;[275] publicly, he announced that he would leave the decision concerning the Bank in the hands of the people.[276] Biddle was finally convinced to take open action by Henry Clay, who had decided to run for president against Jackson in the 1832 election. Biddle would agree to seek renewal of the charter two years earlier than scheduled. Clay argued that Jackson was in a bind. If he vetoed the charter, he would loose the votes of his pro-Bank constituents in Pennsylvania; but if he signed the charter, he would lose his anti-Bank constituents. After the recharter bill was passed, Jackson vetoed it on July 10, 1832, arguing that the country should not surrender the will of the majority to the desires of the wealthy.[277]

Election of 1832
Main article: 1832 United States presidential election
1832 election results
The 1832 presidential election demonstrated the rapid development of political parties during Jackson's presidency. The Democratic Party's first national convention, held in Baltimore, nominated Jackson's choice for vice president, Martin Van Buren. 