Colonists had to struggle to grow enough food to meet their needs.
They could only pay back crops but they also needed food for their families.
The Council of Trent consisted of a group of high officials of the Catholic church. It is not clear if it there were any designated leaders that played a leading or organizational role. The council had been called for by pope Paul III in the year 1517, which first met in December 1545 in the northern Italian city of Trent.
The attendance was small. The opening session attracted only 34 leaders. These leaders were representatives of various catholic jurisdictions. The pope did not attend the meetings of the council and had no formal part in it but his legates ensured his views were always put forward.
It was finally disbanded in 1563. It had engaged in talks for only four and a half years of the eighteen years it was in existence.
<span>The Democratic party was seen as to blame for this Panic. The Specie Circular, implemented under Jackson and Van Buren, was seen as the major driver of the inflation and price increases that led to the Panic of 1837. This led to restrictions on credit, less borrowing, and therefore, bank failures. In addition, farmers were having trouble meeting their loan terms, due to the inflation on their farm products, and were losing their lands to larger, wealthier farmers. All this led to a Panic that lasted until the mid-1840s.</span>