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The panic of 1837 resulted in a depression that lasted for how long?
Wiki User
∙ 8y ago
Up to 12 years in some states
Wiki User
∙ 11y ago
Wiki User
∙ 8y ago5 years
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The panic of 1837 and subsequent depression were caused by?
Over-speculation and Jackson's financial policies.
What hardships did citizens face during the Panic of 1837?
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.
What was the main cause of the Panic of 1837?
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.
What was the panic of 1837 caused by?
Many historians blame the Panic of 1837 on then President Andrew Jackson who failed to renew the charter of Second Bank of the US, prompting transfer of government funds to a different bank. The start of the whole problem was however the sudden decline in cotton prices which led to reduced income for farm owners and their workers.
Importance of panic of 1837?
I think it is Inflation.
What was the economic condition following the Panic of 1837?
Depression
How did Jacksons Specie Circular of 1836 affect the economy of the us?
contributed to the great depression It contributed to the depression of 1837.
How did the panic of 1837 affect the economy?
the panic of 1837 affected the nations economy by entering an economic depression where the business and unemployment fell to a very low level.
What did The Panic of 1837 eventually led to?
a worldwide economic crisis called the long depression
What caused the Panic of 1837 and subsequent depression?
The Panic of 1837 was a depression. Panic was then used for what we now call a depression. The Panic of 1837 was caused in part by some of President Andrew Jackson's economic policies, like the Specie Circular, not renewing the charter of the Second Bank of the US, placing government funds in "pet banks." and no government regulation of various business practices.
Was the panic of 1837 resulted in large measure from complex chnges in the international economic system?
yes
The panic of 1837 and subsequent depression were caused by?
Over-speculation and Jackson's financial policies.
The panic of 1837 was a result of what?
A big 5 year depression. MOst of the people went Unemployment.
What was the panic of 1837 a result of?
A big 5 year depression. MOst of the people went Unemployment.
The great depression of 1837 occurred during the presidency of?
Martin Van Buren was the President when this depression or panic hit. It cost him his job .
Panic of 1877?
The Panic of 1873 was a response to the failure of the banking firm Jay Cooke and Company and the severe economic depression that resulted. This led to the Great Railroad Strike of 1877. The goal was the decimate the railroad system that had ruined their livelihood.
What were the Causes and effects of the panic of 1837?
Hundreds of banks closed, High Unemployment, and a five year depression
