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It leads to foreclosure and the closing of banks. When overspeculation of land occurs, banks give loans to people who can't afford it because they think the prices of land will increase. And when the prices don't increase, people who took out the loans can't repay them, banks are forced to foreclose on the land, and they gradually go out of business because of all the money they lost giving loans and never being repaid.
What else can I help you with?
Overspeculation in western lands?
Speculation on the potential value of lands in the western part of the emerging United States resulted in the loss of many fortunes. This over-speculation caused rampant and short lived land rushes.
What was the oridance of 1784?
It was the oridance on 1975 and it was called the "land oridace" which set up a system for surveying and dividing western lands It was the oridance on 1975 and it was called the "land oridace" which set up a system for surveying and dividing western lands It was the oridance on 1975 and it was called the "land oridace" which set up a system for surveying and dividing western lands
What divided western lands into townships?
the land ordinace
According to the Proclamation of 1763 the government controlled all western lands?
british
Why did congress sell and give away western lands after the revolutionary war?
The confederation congress wanted to sell the nations western lands so that they could pay the nation's debts. They wanted to sell the land to the public.
Overspeculation in western lands?
Speculation on the potential value of lands in the western part of the emerging United States resulted in the loss of many fortunes. This over-speculation caused rampant and short lived land rushes.
Panic of 1873?
Four year economic depression caused by overspeculation on railroads and western lands, and worsened by Grant's poor fiscal response (refusing to coin silver)
What is the ISBN of The Western Lands?
The ISBN of The Western Lands is 0670813524.
When was The Western Lands created?
The Western Lands was created in 1987.
How many pages does The Western Lands have?
The Western Lands has 258 pages.
When did University of the Western Lands end?
University of the Western Lands ended in 1944.
When was University of the Western Lands created?
University of the Western Lands was created in 1940.
The most important controversy dealt with by the government under the Articles of Confederation involved?
the disposition of western lands.
What did the Northwest Ordinance of 1785 provide for western lands?
It provided for the surveying and selling of the land
What does overspeculation mean?
overspeculate-this how month sagiting will find cinty
What is over speculation?
overspeculation or overspeculate means to speculate over.
Effect of western culture?
the effect of western culture on ours the effect of western culture on ours
