The Bank of the United States was a national bank chartered by the federal government in the early 19th century. It aimed to stabilize the nation's economy by providing a uniform currency, managing government funds, and facilitating trade. The first bank was established in 1791, while a second bank was created in 1816 after the first's charter expired. The bank played a crucial role in the financial system but faced opposition from figures like Thomas Jefferson and Andrew Jackson, who believed it concentrated too much power in the hands of a few. The second bank's charter was not renewed in 1836, leading to its closure.