In 1832, President Jackson vetoed a bill that aimed to renew a charter for the US Bank. He issued this message to accompany the rejection in which he explained his controversial decision. He believed the bank held too much power, and that "It is easy to conceive that great evils to our country and its institutions might flow from such a concentration of power in the hands of a few men irresponsible to the people." While some saw this decision a dictator-like act, others saw it as a spark of hope for the poor.