Asked by
Lindsey Mccabe
on Dec 13, 2024
Verified
Which was a cause of the Panic of 1819?
A) a decline in the European market for American farm products
B) debts incurred to finance the War of 1812
C) the Bank of England's demand that American merchants pay their creditors in gold or silver
D) a flood of immigrant labor into American cities
E) the collapse of the Second Bank of the United States
Panic of 1819
The first major financial crisis in the United States, which occurred due to a sudden collapse of the economy, leading to bank failures and unemployment.
European Market
The combined economies of European countries, often referring to the single market in the context of the European Union.
- Assess the causes and consequences of the Panic of 1819 on American society and economy.
Verified Answer
JE
Learning Objectives
- Assess the causes and consequences of the Panic of 1819 on American society and economy.