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The Panic of 1819

Page history last edited by Mr. Hengsterman 4 years, 5 months ago

CAUSES

#1 Over speculation of frontier lands by Banks (especially BUS)

#2 Inflation from war of 1812 + economic drop-off = vulnerable economy

#3 Deficit trade in balance with Britain

#4 BUS forced wildcat western banks to foreclose on western farms

RESULTS
Western farmers viewed banks as a evil financial monster
Hard hit poor classes looking for more representative government (beginnings of Jacksonian democracy)

Attention drawn to the inhumanity of debtors prisons

http://study.com/academy/lesson/panic-of-1819-summary-causes.html

https://www.wm.edu/news/stories/2011/great-recession-lets-call-it-the-panic-of-2008-123.php