Andrew Jackson

Andrew Jackson

Formal First Name
1767 - 1845

Known as the "people's president," Andrew Jackson sought to act as a direct representative of the common man as the seventh president of the United States (1829-1837). He is known for founding the Democratic Party and for his support of individual liberty. Before being elected to the presidency, Jackson was an American soldier and statesman who gained fame as a major general in the United States Army.

  • Face is on the $20 Federal Reserve Note ($20 US dollar bill) since 1928

  • The US became deb-free under his presidency (in 1935) -first time ever debt free
  • Was a land speculator before becoming president
  • Hated debt after a land deal went bad
    • sold land to another person in order to raise money to fund a trading post
    • Issued a promissory note to the other person (David Allison)
    • Used the note as collateral to purchase supplies for the trading post
    • David Allison went bankrupt - left Jackson deep in debt
  • Viewed debt as a "moral Failing" and as "black magic"
  • Determined to rid the US of national debt once he became president.  Knew that debt makes you dependent on your creditors
  • Knew that independence required being debt-free
  • President Donald Trump placed a portrait of Andrew Jackson in his office - suggesting he knows the central bank is no good