Nicholas Biddle (banker)

Nicholas Biddle
Nicholas Biddle (January 8, 1786 – February 27, 1844) was an American financier who served as the third and last president of the Second Bank of the United States (chartered 1816–1836).wikipedia
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Bank War

conflict over the National Bankdestroy the institution by 1833dismantling
He is best known for his role in the Bank War.
In early 1832, the president of the Bank of the United States, Nicholas Biddle, in alliance with the National Republicans under Senators Henry Clay (KY) and Daniel Webster (MA), submitted an early application for a renewal of the Bank's twenty-year charter.

Second Bank of the United States

Bank of the United Statesnational bankUnited States Bank
Nicholas Biddle (January 8, 1786 – February 27, 1844) was an American financier who served as the third and last president of the Second Bank of the United States (chartered 1816–1836).
The efforts to renew the bank's charter put the institution at the center of the general election of 1832, in which the bank's president Nicholas Biddle and pro-bank National Republicans led by Henry Clay clashed with the "hard-money" Andrew Jackson administration and eastern banking interests in the Bank War.

Biddle family

BiddleMary D. BiddleBiddle families
A member of the prominent Biddle family of Philadelphia, Nicholas Biddle worked for prominent officials such as John Armstrong Jr. and James Monroe in his youth.

Whig Party (United States)

WhigWhig PartyWhigs
At the request of Henry Clay and other Whigs, Biddle asked Democratic President Andrew Jackson to renew the bank's federal charter in 1832.
Hoping to make the national bank a key issue of the 1832 election, the National Republicans convinced national bank president Nicholas Biddle to request an extension of the national bank's charter, but their strategy backfired when Jackson successfully portrayed his veto of the recharter as a victory for the people against an elitist institution.

Andrew Jackson

JacksonJacksonianPresident Andrew Jackson
At the request of Henry Clay and other Whigs, Biddle asked Democratic President Andrew Jackson to renew the bank's federal charter in 1832.
Monroe had appointed Nicholas Biddle as the Bank's executive.

Henry Clay

ClayHenry Clay, Sr.Clay, Henry
At the request of Henry Clay and other Whigs, Biddle asked Democratic President Andrew Jackson to renew the bank's federal charter in 1832.
The bank's charter did not expire until 1836, but bank president Nicholas Biddle asked for renewal in 1831, hoping that election year pressure and support from Secretary of the Treasury Louis McLane would convince Jackson to allow the re-charter.

Thomas Biddle

Major Thomas Biddle
His younger brother Thomas Biddle, a War of 1812 hero who died in a duel, should not be confused with his cousin by the same name, who became a leading exchange broker in Philadelphia.
Older brother Nicholas Biddle was president of the Second Bank of the United States.

Nicholas Biddle (naval officer)

Nicholas BiddleCaptain Nicholas Biddle
His paternal uncle and namesake Nicholas Biddle (1750–1778), whose residence was also in Philadelphia, was an early colonial and American Revolutionary War naval hero, who died during the rebellion.
His brother, Edward Biddle, was a staunch advocate for American independence, and his nephew, Nicholas Biddle, was an esteemed banker.

The Port Folio

Port FolioPort-FolioDennie's Port Folio
He became associate editor of a magazine called Port-Folio, which was published from 1806–23.
After Dennie's death, Nicholas Biddle, who was already a literary contributor and patron, became editor, but only until 1814.

Pennsylvania Senate, District 1

1st district1st Senatorial District1
Biddle served as a Federalist member of the Pennsylvania House of Representatives in 1810, and then in the Pennsylvania State Senate for the 1st district from 1813 to 1815.

Girard College

Founder's HallFounder's Hall, Girard CollegeGirard College Civil Rights Landmark
He was also important in the 1833 establishment of Girard College, an early free private school for poor orphaned boys in Philadelphia, under the provisions of the will of his friend and former legal client, Stephen Girard (1750–1831), one of the wealthiest men in America.
The buildings and classrooms for Girard took some time to design and construct with their expensive "Greek Revival" stone architecture, but were ready and opened on January 1, 1848, under provisions of Girard's will supervised by the appointed trustees, including banker and financier Nicholas Biddle, (1786-1844).

Lewis and Clark Expedition

Lewis and ClarkLewis & ClarkLewis & Clark Expedition
Biddle also prepared western explorers Lewis and Clark's report for publication of their exploratory expedition up the Missouri River through the newly acquired Louisiana Purchase from France (previously recently owned for generations by Spain), across the Rocky Mountains and the Oregon Country of the Pacific Northwest to the mouth of the Columbia River on the far Pacific coast, and he encouraged third President Thomas Jefferson to write an introductory memoir of his former aide and private secretary, Captain Meriwether Lewis, (1774–1809).
Paul Allen edited a two-volume history of the Lewis and Clark expedition that was published in 1814, in Philadelphia, but without mention of the actual author, banker Nicholas Biddle.

Langdon Cheves

When the Bank's president, Langdon Cheves, resigned in 1822, Biddle became its president.
In 1822 he resigned this post and was succeeded by Nicholas Biddle.

Louis McLane

The incumbent Secretary of the Treasury, Louis McLane, a member of Jackson's Cabinet, professed moderate support for the Bank.
Recognizing there was a difference of opinion with Jackson over the Bank, he sought to work out a plan with the bank president, Nicholas Biddle, to provide for the upcoming renewal of the bank's charter in return for the accomplishment of a key objective of the President, the retirement of the national debt.

Charles John Biddle

Charles J. Biddle
In 1811 Biddle married Jane Margaret Craig (born 1792); the couple had six children including Charles John Biddle, who served in the United States Army and in the House of Representatives.
He was the son of Nicholas Biddle, president of the Second Bank of the United States, and nephew of Congressman Richard Biddle.

Panic of 1819

18191819 to 1821, which was one of the most severe1819–20
This rather sudden contraction of the country's monetary base after three currency and rampant speculation based on debt led to the financial Panic of 1819.
Among his promoters were US President James Monroe, BUS directors Stephen Girard and Nicholas Biddle and those stockholders who wanted Bank leadership that was fiscally conservative and immune to political influence.

Spencer Darwin Pettis

Spencer D. PettisSpencer Pettis
On August 26, 1831, Biddle's brother, Thomas, a War of 1812 veteran, was killed in a duel on "Bloody Island" on the Mississippi River at St. Louis, Missouri with U.S. Representative (Congressman) Spencer Pettis.
During one of those speeches, Congressman Pettis harshly criticized Nicholas Biddle, President of the Second Bank of the United States.

Bloody Island (Mississippi River)

Bloody Island
On August 26, 1831, Biddle's brother, Thomas, a War of 1812 veteran, was killed in a duel on "Bloody Island" on the Mississippi River at St. Louis, Missouri with U.S. Representative (Congressman) Spencer Pettis.

Paul Allen (editor)

Paul Allen
However, Biddle's name does not appear in the work, as he was elected to serve on the Pennsylvania state legislature (1810–1811) and was compelled to turn over the project to Paul Allen, (1775–1826), who then further supervised its publication.
Born in Providence, Rhode Island, he edited a two-volume history of the Lewis and Clark expedition that was published in 1814, in Philadelphia, but without mention of the actual author, banker Nicholas Biddle.

Andalusia (estate)

AndalusiaAndalusia (Nicholas Biddle Estate)
The Nicholas Biddle Estate in Bensalem Township, Pennsylvania, also known as "Andalusia", is a National Historic Landmark, registered with the National Park Service of the U.S. Department of the Interior.
In 1811, Craig's daughter Jane married prominent financier Nicholas Biddle (1786–1844).

Charles Biddle

Charles
His father, Charles, was prominent in his devotion to the cause of American independence and served as [[Supreme Executive Council of the Commonwealth of Pennsylvania#Vice-Presidents of Council|Vice-President of the Supreme Executive Council of Pennsylvania]], alongside [[Supreme Executive Council of the Commonwealth of Pennsylvania#Presidents of Council|Council President]], the famous Benjamin Franklin (1705/06–1790).

Investor

financierinvestorsfinanciers
Nicholas Biddle (January 8, 1786 – February 27, 1844) was an American financier who served as the third and last president of the Second Bank of the United States (chartered 1816–1836).

Pennsylvania General Assembly

Pennsylvania LegislatureGeneral AssemblyPennsylvania State Legislature
He also served in the Pennsylvania General Assembly.

Philadelphia

Philadelphia, PennsylvaniaPhiladelphia, PACity of Philadelphia
A member of the prominent Biddle family of Philadelphia, Nicholas Biddle worked for prominent officials such as John Armstrong Jr. and James Monroe in his youth. He was also important in the 1833 establishment of Girard College, an early free private school for poor orphaned boys in Philadelphia, under the provisions of the will of his friend and former legal client, Stephen Girard (1750–1831), one of the wealthiest men in America.

John Armstrong Jr.

John ArmstrongJohn Armstrong, Jr.John Armstrong Jr
A member of the prominent Biddle family of Philadelphia, Nicholas Biddle worked for prominent officials such as John Armstrong Jr. and James Monroe in his youth.