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The Panic of 1819

Page history last edited by Mr. Hengsterman 4 years, 7 months ago


Reading on the Panic of 1819





#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


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











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