Question

Why did Madison recharter the Bank of the United States?

to expand the amount of money available for new businesses

to encourage people to save money

to help businesses pay tariffs

to encourage companies to save for future investment

Answer 1

Answer:

The War of 1812 had left a formidable debt. Inflation surged ever upward due to the ever-increasing amount of notes issued by private banks. Specie was jealously hoarded. For these reasons President Madison signed a bill authorizing the 2nd Bank in 1816 with a charter lasting 20 years.