established 1791 (with a charter for 20 years) from a bill proposed by Hamilton. Its charter ended 1811 and Congress declined to renew it. The Second Bank of the US was established 1816 (with another 20 year charter) because of the currency problem not having a centralized bank had created. Tightening measures by the bank after a land boom in the West, many westerners believed, cause the Panic of 1819. Many people blamed the Bank of the US. By 1830's Bank= nation's largest financial institution. Biddle President of bank since 1823. * Jackson hated the Bank, and after winning the 1832 elections began to weaken it, by removing the government's deposits from the bank. Biddle began to raise interest taxes, justifying himself by saying that without the government's money, the resources were too little. In the end, Biddle pushed too far, losing even his supporter, and Jackson was victorious. The bank died in 1836, at the end of its charter. 3: 1775-1825 These consist of four laws passed by the Federalist Congress and signed by President Adams in 1798: the Naturalization Act, which increased the waiting period for an immigrant to become a citizen from 5 to 14 years; the Alien Act, which empowered the president to arrest and deport dangerous aliens; the Alien Enemy Act, which allowed for the arrest and deportation of citizens of countries at was with the US; and the Sedition Act, which made it illegal to publish defamatory statements about the federal government or its officials. The first 3 were enacted in response to the XYZ Affair, and were aimed at French and Irish immigrants, who were considered subversives. The Sedition Act was an attempt to stifle Democratic-Republican opposition, although only 25 people were ever arrested, and only 10 convicted, under the law. The Kentucky and Virginia Resolutions, which initiated the concept of "nullification" of federal laws were written in response to the Acts.