4 years ago

The Panic of 1837:

1 answer:

5 0

Can only be blamed on Andrew Jackson’s veto of the bill to recharter

Jackson's explanations to the Senate when he refused the bank bill led to the Panic of 1837. Andrew Jackson, who Van Buren had obeyed as an administrator of the state, burned the national Second Bank of the United States by assigning governmental funds to more petite state banks. The Panic of 1837 was a commercial disaster in the United States that affected off a significant slowdown that persisted till the mid-1840s. Profits, Costs, and earnings went down while unemployment increased.

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