In contrast to his strong stand against South Carolina, Andrew Jackson took no action after Georgia claimed millions of acres of land that had been guaranteed to the Cherokee Indians under federal law, and he declined to enforce a . Supreme Court ruling that Georgia had no authority over Native American tribal lands. In 1835, the Cherokees signed a treaty giving up their land in exchange for territory west of Arkansas , where in 1838 some 15,000 would head on foot along the so-called Trail of Tears . The relocation resulted in the deaths of thousands.
In 1832, Jackson vetoed the bill to renew the charter of the Second Bank of the United States, the nation’s central bank. He believed the bank and those who controlled it had too much power and could ruin the country financially for their own gains. In 1833, Jackson dismissed his Treasury Secretary for refusing to remove deposits from the Second Bank and became the only President censured by the Senate for his actions, although the censure was expunged at the end of his second term. Over the next four years, banks bowed to political pressure and relaxed their lending standards, eventually maintaining unsafe reserve ratios. In January 1835, Jackson paid off the entire national debt, the only time in . history that has been accomplished. However, the Panic of 1837 and the ensuing depression, due in part to relaxed lending standards, caused the national debt to begin to increase again.