Biddle, Nicholas

Biddle, Nicholas
born Jan. 8, 1786, Philadelphia, Pa., U.S.
died Feb. 27, 1844, Philadelphia

U.S. author, financier, and lawyer.

He served as secretary to Pres. James Monroe (1806–07), then minister to England, and, afterward, while practicing law in the U.S., he wrote History of the Expedition of Captains Lewis and Clark (1814) from the explorers' notes. In 1823 Monroe appointed him president of the Second Bank of the United States. He developed the bank into the first effective U.S. central bank, sponsoring policies that curbed credit, regulated the money supply, and safeguarded government deposits. In 1832 the bank came under attack from Pres. Andrew Jackson, who managed to terminate its national charter in 1836. Biddle later became president of the bank under a Pennsylvania state charter. The Federal Reserve System was later established as the country's central bank.

Nicholas Biddle

By courtesy of the Library of Congress, Washington, D.C.

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▪ American financier
born Jan. 8, 1786, Philadelphia
died Feb. 27, 1844, Philadelphia
 financier who as president of the Second Bank of the United States (1823–36) made it the first effective central bank in U.S. history. He was Pres. Andrew Jackson's chief antagonist in a conflict (1832–36) that resulted in termination of the bank.

      Biddle was a contributor to and later (1812) editor of Port Folio, the first U.S. literary journal. He served as secretary to Pres. James Monroe (1806–07), then minister to England, and, afterward, while practicing law in the United States, he wrote History of the Expedition of Captains Lewis and Clark (1814) from the explorers' notes. In 1815, while a member (1814–18) of the state senate, Biddle drafted and wrote Pennsylvania's rejection of the Hartford Convention's proposed constitutional amendments to limit the powers of Congress and of the executive. In 1819 President Monroe commissioned him to compile a digest of foreign legislation affecting U.S. trade and appointed him one of the directors of the Second Bank of the United States.

      As president of the bank, Biddle sponsored policies that restrained the supply of credit to the country's banks; stabilized the investment, money, and discount markets; regulated the money supply; and safeguarded government deposits. Between 1832 and 1836 the bank came under the attack of Jackson's Democratic Party, which sought to eliminate it, while the Whigs supported it. After Jackson won termination of the bank's national charter in 1836, Biddle became president of the rechartered Bank of the United States of Pennsylvania. After retiring in 1839, Biddle helped to establish Girard College in Philadelphia and held celebrated literary salons at Andalusia, his country estate.

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Universalium. 2010.

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  • Biddle, Nicholas — (8 ene. 1786, Filadelfia, Pa., EE.UU.–27 feb. 1844, Filadelfia). Autor, financista y abogado estadounidense. Fue secretario del pdte. James Monroe (1806–07) y ministro para asuntos con Inglaterra. Más adelante, mientras ejercía la abogacía en… …   Enciclopedia Universal

  • Biddle — Biddle, a surname, may refer to:PeopleMembers of the Biddle family* Clement Biddle, 1740–1814, an American Revolutionary soldier and quartermaster general. * Nicholas Biddle (naval officer) (1750 1778) * James Biddle (Leader of American… …   Wikipedia

  • Nicholas Biddle (banker) — This article is about Nicholas Biddle the banker. For Nicholas Biddle the naval officer, see Nicholas Biddle (naval officer). Nicholas Biddle portrait by William Inman, c.1830s Born January 8, 1786 …   Wikipedia

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  • Biddle — /bid l/, n. 1. Francis, 1886 1968, U.S. attorney general 1941 45. 2. John, 1615 62, English theologian: founder of English Unitarianism. 3. Nicholas, 1786 1844, U.S. financier. * * * (as used in expressions) Biddle James Biddle John Biddle… …   Universalium

  • Nicholas — /nik euh leuhs, nik leuhs/, n. 1. of Cusa /kyooh zeuh/, 1401 1464, German cardinal, mathematician, and philosopher. German, Nikolaus von Cusa. 2. Grand Duke, 1856 1929, Russian general in World War I. 3. Saint, fl. 4th century A.D., bishop in… …   Universalium

  • Biddle — (as used in expressions) Biddle, James Biddle, John Biddle, Nicholas …   Enciclopedia Universal

  • Nicholas — (as used in expressions) Nicholas Breakspear Biddle, Nicholas Butler, Nicholas M(urray) Hilliard, Nicholas Lindsay, (Nicholas) Vachel Monsarrat, Nicholas (John Turney) Louis Francis Albert Victor Nicholas, príncipe de Battenberg Nicholas,… …   Enciclopedia Universal

  • Nicholas Biddle — may refer to: Nicholas Biddle (naval officer) (1750–1778), officer in the American Continental Navy Nicholas Biddle (banker) (1786–1844), American banker and President of the Second Bank of the United States This disambiguation page lists… …   Wikipedia

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