Based on Andrew Jackson's speech "Veto of the Bank Bill on 1832" What are Jackson's major objections to the National Bank? Do you find them convincing?

The Bank
of the United States was set up in 1791 based upon a proposal by Alexander Hamilton. It was to
function as a national bank, securing federal funds and serving as the financial agent of the
government. The Second Bank of the United States was approved and established in 1816 with a
20-year charter. Proponents of the bank proposed a renewal of the bank's charter in 1832, four
years before the expiration of the old charter, in order to make the bank's existence and
importance an issue for the 1832 presidential elections. Despite the threat of possible
political backlash, President Jackson vetoed the bill. He delineated his reasons in his message
on July 10, 1832.

Jackson's primary reason for the veto was that he felt
that the bank existed as a monopolynot for the benefit of the American people, but only for the
richest segments of the population as well as foreign investors. He felt that the renewal of the
Bank Act would comprise a gift to the privileged few and to foreigners...

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