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| No, Jackson ended the second bank of the US. Fractional reserve banking long predates the US. There is no need for a central bank for fractional reserve banking.
Edit: just saw your followup. Yes he ended the central bank of that time. Fractional reserve carried on regardless. An economy without credit access would not be a good idea. To sniffle good loans... is a third world wish. Jackson, likely disliked banking in general, but he wasn't going to be able to end fractional reserve banking.
Edited by reformedbanker 12/28/2025 16:39
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How money is created
