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The Panic of 1819

Page history last edited by Mr. Hengsterman 2 years, 2 months ago

 

Reading on the Panic of 1819

 

 

 

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

 

 

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