I think that the answer is that when Van Buren became president, he persuaded congress to establish a federal treasure in 1840. Hope that helps. :)
"that answer is partially wrong" by editor.
ANSWER: When land value dropped sharply, investment declined suddenly and banks failed Got off book)
That is not the question
I think the REAL ANSWER is, when land value dropped paper money value dropped because of over printing it became worthless. So you had to use gold and silver coins to pay
During the Panic of 1837, 10% of Americans were unemployed. Also, mobs in New York City raided warehouses to make sure they had food to eat.
They caused by them telling Andrew Jackson that it was wrong to give people loans of gold and sliver. also because in the Cordially they discussed it farther and came to a calculation that the Speculators were truly the ones to blame for the panic of 1837.
Over-speculation and Jackson's financial policies.
I think it is Inflation.
Up to 12 years in some states
It Occured on May 10, 1837
Panic of 1837
in all likelihood you're thinking of the panic of 1837.
Van Buren had to respond but was hampered by his own political party's laissez-faire policies, dooming his re-election
the panic of 1837 affected the nations economy by entering an economic depression where the business and unemployment fell to a very low level.
panic of 1837
The direct cause of the Panic of 1837 was the vetoing of the Bank Bull by president Andrew Jackson. This was a serious financial crisis in the United States.
What do you think Van Buren could have done to ease the panic of 1837?Read more: What_do_you_think_Van_Buren_could_have_done_to_ease_the_panic_of_1837
contributed to the great depression It contributed to the depression of 1837.
economic crises in Great Britain