Best Answer

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

User Avatar

Wiki User

10y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: How did Congress respond to the panic of 1837?
Write your answer...
Still have questions?
magnify glass