Panic of 1837 flashcards

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What was the panic of 1837? The panic of 1837 was a financial crisis in the U.S that started a major recession that lasted until the mid 1840s
What was the cause of the panic of 1837? The panic was due to speculative lending practices, a decline in the price of cotton, international specie flow and a collapsing land bubble
What was the result of the panic of 1837? wages, profits and prices went down, while unemployment went up. Banks collapsed, businesses failed, jobs were lost
President Jackson issued a _________ in 1836 that was meant to stop land speculation caused by states printing paper money without proper specie(gold or silver) to back it Specie Circular
During Jacksons administration many state banks received government money that had been withdrawn from the _______ Bank of the United States

What was the panic of 1837?

What was the cause of the panic of 1837?

What was the result of the panic of 1837?

President Jackson issued a _________ in 1836 that was meant to stop land speculation caused by states printing paper money without proper specie(gold or silver) to back it

During Jacksons administration many state banks received government money that had been withdrawn from the _______

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