TeachMeFinance.com - explain Fiscal Bank of the United States
Fiscal Bank of the United States -- This was the name given
to a proposed bank modelled practically on the same lines as
the two Banks of the United States. It seems to have been
the idea of its projectors that the word Fiscal in the'title would
overcome some of the popular objections to the establishment
of a third great national bank.
Congress passed a bill authorizing the Fiscal Bank of the
United States and sent it to President Tyler on August 6,
1841. The President vetoed it on alleged constitutional
grounds. A new bill meeting the views of the President as
expressed in his veto was promptly prepared and passed, but
the President vetoed that also. This ended all serious attempts
to create a great national bank.
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