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| Field name | Value |
|---|---|
| Collection Reference Number | GLC01994.02 |
| From Archive Folder | Currency, Counterfeiting and Coins |
| Title | Nicholas Biddle to William Appleton re: instructions on bank funds as Jackson dismantles bank |
| Date | 24 January 1833 |
| Author | Biddle, Nicholas (1786-1844) |
| Recipient | Appleton, William |
| Document Type | Correspondence; Business and financial document; Government document |
| Content Description | Written as president of the Bank of the United States to Appleton, President of the Office of Discount and Deposit, Boston. Biddle explains that "the loans in the remoter offices, particularly in the South and West, are gradually diminishing, and the fund[s] transferred into the more manageable form of domestic bills of exchange." Biddle explains that this policy will provide more funds for circulation in the Atlantic offices, where more money was needed. This was the very policy that angered President Jackson, who felt money should be kept in the originating region. |
| Subjects | Bank of the US Banking Finance Economics President |
| Theme | Banking & Economics; The Presidency |
| Sub-collection | The Gilder Lehrman Collection, 1493-1859 |
| Additional Information | Item includes a portrait of Andrew Jackson and a cheque. |
| Copyright | The Gilder Lehrman Institute of American History |
| Module | Settlement, Commerce, Revolution and Reform: 1493-1859 |