Importance of 2nd Presidential Election

The 2nd presidential election of 1796 between Thomas Jefferson and John Adams set the United States back a term. By electing John Adams, US citizens became aware of many aspects of the US government that did not serve the people and gave more power to the government. John Adams brought into the presidential office many federalists ideas that he soon put into action. The establishment of the US central bank is a prime example of this. The US central bank ultimately gave all power to the government. The central bank would be able to control the interest rates of the money they would lend out to other US banks, which would in turn influence the value of the US dollar. Thomas Jefferson had consistently expressed his resentment towards the idea of a central bank and by the time he took the office of the 3rd US president it was too late.