What was the panic of 1837 caused by?

Answer 1

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.

Answer 2

The panic of 1837 was caused by the lack of supporters of the Jackson side. Later when president Van Buren took office the Panic of 1837 emerged. At the time Jacksons banking policies and his unsuccessful plan to curb inflation contributed to the panic. But people blamed Van Buren.

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Answer 3

the decision to stop sccepting paper money for the purchase of federal land.

Answer 4

The panic of 1837 took place in the United States. Mismanagement of some banks was the cause of this financial upheaval.

Answer 5

One main cause was that Jackson vetoed the Bank Bill.

Answer 6

The Panic of 1837 was the start of a major recession in the United States that lasted until the mid 1840s. It began due to a period of economic expansion and prices rising.

Answer 7

several states defaulted their debts to Britain

Answer 8

through a series of banks going bankrupt

Answer 9

economic crises in Great Britain