Biddle, Nicholas

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Biddle, Nicholas,

1750–78, American naval officer, b. Philadelphia. Biddle left the British navy in 1773. In the American Revolution he became captain in the patriot navy and daringly raided British shipping off the American coast. After receiving command (1777) of the ship Randolph, Biddle was killed and his ship destroyed in an encounter (1778) with the British warship Yarmouth off the coast of Barbados.

Biddle, Nicholas,

1786–1844, American financier, b. Philadelphia. After holding important posts in the American legations in France and England, he returned to the United States in 1807 and became one of the leading lights of Port-Folio, a literary magazine, which he edited after 1812. He was also commissioned to write the history of the Lewis and Clark expeditionLewis and Clark expedition,
1803–6, U.S. expedition that explored the territory of the Louisiana Purchase and the country beyond as far as the Pacific Ocean. Purpose
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, but turned over the job to Paul Allen, a Philadelphia journalist, when he was elected (1810) to the state house of representatives, where he served a single term. In 1819, President Monroe appointed him one of the government directors of the Bank of the United StatesBank of the United States,
name for two national banks established by the U.S. Congress to serve as government fiscal agents and as depositories for federal funds; the first bank was in existence from 1791 to 1811 and the second from 1816 to 1836.
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. He became its president in 1823, and his administration illustrated his belief in the necessity of a central banking institution to stabilize the currency and curb the inflationary tendencies of the era. He became the leading target of the Jacksonians in their war against the bank. After the bank failed of recharter, Biddle operated it as a private bank until it collapsed (1841) as an aftermath of the Panic of 1837. He was charged with fraud but was subsequently acquitted. Biddle's public correspondence dealing with national affairs (1817–44) was edited by Reginald McGrane (1919).

Bibliography

See biography by T. P. Govan (1959); study by G. R. Taylor (1949); B. Hammond, Banks and Politics in America (1957, repr. 1967); R. V. Remini, Andrew Jackson and the Bank War (1967).

Biddle, Nicholas

(1786–1844) writer, banker, statesman; born in Philadelphia. A brilliant student and writer, he entered the University of Pennsylvania at age 10; by age 18, he was serving as secretary to the U.S. Minister to France. He returned to the U.S.A. in 1807 and became a lawyer. He wrote part of the History of the Expedition of Captains Lewis and Clark (1810–12) but gave the project away when he was elected to the state legislature. Always interested in literature, he became editor of Port Folio (1812), the leading literary journal at that time. Drawn to banking by his friend, James Monroe, and to the nation's need during the War of 1812, he eventually became president of the Bank of the United States (1822–36). His attempt to re-charter the Bank failed in the face of vigorous opposition from President Andrew Jackson. In retirement, he made his country home on the Delaware River, "Andalusia," into a center of refined intellectual life.

Biddle, Nicholas

(1750–78) naval officer; born in Philadelphia. One of the first five captains commissioned by Congress (1775), he participated in the capture of New Providence Island, Bahamas (1776) and captured several British ships before his death in the explosion of his ship, the USS Randolph.
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BUS President Nicholas Biddle was a young reformer when he took the job in 1823 and did his utmost to keep politics out of the bank's deliberations.
Few politicians in either party seem inclined to defend the Fed's lack of transparency, while mighty and aloof Federal Reserve governors are hardly more popular now than Nicholas Biddle was in 1832.
But that bank eventually came under the control of Nicholas Biddle, one of America's noted and unscrupulous financiers.
This ideal grew out of Andrew Jackson's titanic struggle with Nicholas Biddle and the Second Bank of the United States.
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Andrew Hamilton, Nicholas Biddle, Jay Cooke, Jay Gould and J.
The third president of the SBUS, Nicholas Biddle of Philadelphia, came from one of the most prominent banking families of the era.
One can hardly imagine two characters outwardly more dissimilar than Andrew Jackson and Nicholas Biddle.
Klein, chair of the Pennsylvania Historical and Museum Commission, will dedicate a state historical marker commemorating Andalusia, the country estate of Nicholas Biddle, at 4:30 p.
That bank, located in Philadelphia, came under the control of a wily, unscrupulous operator named Nicholas Biddle.
of Texas) examines this history by focusing on five individuals central to these debates: Alexander Hamilton (1755-1757), the first Secretary of the Treasury and champion of the idea of a national bank; Nicholas Biddle (1786-1844), president of the Second Bank of the United States who fought the "Bank War" with President Andrew Jackson; Jay Cooke (1821-1905), the American financier whose bonds financed the Union during the Civil War and, in the process, pioneered the use of price stabilization; Jay Gould (1836-1892), who tried to corner the market in gold; and J.
In particular he did not trust Nicholas Biddle, the wily boss of the Bank of the U.