Who took 60% of U.S. funds out of the Bank at the request of Andrew Jackson, leading to the economic depression of 1837?

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The correct answer is Roger B. Taney. As Secretary of the Treasury under President Andrew Jackson, Taney played a crucial role in the removal of federal funds from the Second Bank of the United States. Following Jackson's directive, he redirected a significant portion of the federal government's deposits to state banks, commonly referred to as "pet banks." This move was part of Jackson's broader campaign against the Bank, which he believed represented an overreach of federal power and a threat to democratic principles.

The withdrawal of these funds contributed to the inflation and economic instability that led to the Panic of 1837. This financial crisis saw a sharp rise in speculation, land prices, and ultimately a severe economic downturn as banks failed and unemployment increased.

While other figures like John Quincy Adams, Henry Clay, and Martin Van Buren were significant in the political landscape of the time, they did not directly implement the policy of withdrawing funds from the bank at Jackson's behest. Martin Van Buren, while later becoming president during the height of the depression, was not responsible for the initial actions that led to it. Taney’s actions directly influenced the financial conditions that culminated in the economic challenges of 1837.

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