One reason for why he vetoed the National Bank is listed in Document 4 when it says, “It appears that more than a fourth part of the stock is held by foreigners and the rest is held by a few hundred of our own citizens, chiefly of the richest class.” The bank existed to aid foreigners and wealthy Americans, which means that most of the population of America does not benefit from the Bank. Jackson believed that it was in the best interest of the people as a whole to close the Bank because it favored the upper class of America. This shows he was democratic because he was looking out for all of the people, and not strictly the ones with great influence. Document 4 also says that, “Of the twenty-five directors of the bank five are chosen by the government and twenty by the citizen stockholders.” The majority of those in charge of the National Bank were not elected by the people, but by the those already in a position of power. Consequently, Jackson ended the Bank because it did not allow all citizens to have a