Asked by
Elisabeth Pratt
on Oct 16, 2024
Verified
The Panic of 1837 led to a depression that lasted until 1843.
Panic Of 1837
Beginning of major economic depression lasting about six years; touched off by a British financial crisis and made worse by falling cotton prices, credit and currency problems, and speculation in land, canals, and railroads.
Depression
A severe and prolonged downturn in economic activity characterized by high unemployment, decreased GDP, and reduced consumer spending.
- Examine the impact of economic measures and crises, like the Panic of 1837 and the Independent Treasury system, in shaping the American economic landscape.
Verified Answer
AH
Learning Objectives
- Examine the impact of economic measures and crises, like the Panic of 1837 and the Independent Treasury system, in shaping the American economic landscape.