Who proposed the re-charter of the Bank of the United States in 1832?

The re-charter of the Bank of the United States in 1832 was proposed by Henry Clay. At the time, the Second Bank of the United States faced significant opposition from President Andrew Jackson, who was a staunch critic of the bank's influence and power. Clay, recognizing the importance of the bank in the national economy and its role in stabilizing the currency, sought to re-charter it ahead of the election to make it a key political issue. He believed that this move would rally support for the bank and demonstrate its benefits to the American economy.

Henry Clay's strategy was ultimately to provoke a response from Jackson, which he anticipated would boost Clay's political standing. However, Jackson vetoed the re-charter, framing it as a fight against a corrupt institution that favored the wealthy over the average citizen. This significant event highlighted the growing divide in American politics regarding fiscal policy and the role of banking in society.