Reaction to the Panic depended upon where one lived. Northern manufacturers thought future economic downturns could be avoided by enacting high tariffs that would protect them from foreign competition. Southerners, however, resented the higher prices they had to pay for imports because of the tariff and began a long campaign against those duties, hoping that freer trade would revive the cotton economy. Westerners, taking a still different approach, blamed the bankers and speculators.
fewer exported goods going from America to eurpoe
The result of the Panic of 1819 was that the whole nation went into a sever depression.
he ate a cow
One cause of the Panic of 1819 was that fewer exports going from America to Europe.
One cause of the Panic of 1819 was that fewer exports going from America to Europe.
Panic of 1819
Led to the establishment of the US dollar.
Stabilization of currency by the national bank.
One cause of the Panic of 1819 was that fewer exports going from America to Europe.
One cause of the Panic of 1819 was that fewer exports going from America to Europe.
James Monroe was the president durin the panic of 1819
will the panic of 1837 ended in 1840 around that year
Panic of 1819
Led to the establishment of the US dollar.
Stabilization of currency by the national bank.
Banks calling in loans they had made to farmers and businesses
In 1819 Moses Austin's America bank failed, causing him to lose all of his fortune.
Banks calling in loans they had made to farmers and businesses
There weren't many jobs available.
There weren't many jobs available.