I believe it was because the republicans did not want a large government and having a National Bank (I'm not sure if this is the bank you are talking about) would make the government even larger and they felt that it would take the power from the people.
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Jackson opposed it because he thought that it was unfair because it gave the bank considerable, almost monopolistic, market power, specifically in the markets that moved financial resources around the country and into and out of other nations.
