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Historical Error #13: Jefferson and Jackson's War on the First Bank of the United States
Ellen Brown has a terrible problem with calendars. They make no sense to her. We can see this in her discussion of the First Bank of the United States (1791-1811). We will see it again in her discussion of the Federal Reserve System.
Jefferson was instrumental in Congress's refusal to renew the charter of the first U.S. Bank in 1811. [Web of Debt, p. 76.]
She offers no footnote. This is understandable, since Jefferson left office in 1809.
His successor and long-term collaborator, James Madison, decided to switch sides and support the bank's recharter in 1811. The move failed by one vote in the House and one vote in the Senate: a tie-breaker from the Vice President.
Then she compounds her error.
When Congress later renewed the Bank's charter, Andrew Jackson vetoed it. [Web of Debt, p. 76]
Well, no. Jackson fought the Second Bank of the United States (1816-1836). It had been chartered by Congress because James Madison wanted to replace the First Bank of the U.S.
She knows this. She explains it on the next page. But she does not pay attention when she writes. Her mind wanders. This is not good for a lawyer.
Not one of her readers ever noticed this obvious error and warned her. The error is still in the 4th printing.
Her readers are not historians. They are not economists, either.
Here is her response:
For a detailed critique of Ellen Brown's economics, go here: