Panic of 1837 | Causes, Effects & Significance
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Panic of 1837 | Causes, Effects & Significance
Learn about the causes of the Panic of 1837 and the impact it had on the United States. Explore the effects of the Panic of 1837, including the Depression of 1837, and learn about the recovery process.
6.6K viewsFeb 23, 2016
Panic of 1837 Causes
The Panic of 1837 wasn't just an economic event; it reshaped America. With no central bank to stabilize credit after President Jackson dismantled the Second Bank, hundreds of state-chartered banks failed when land and cotton prices collapsed. Hunger driven by soaring unemployment led to food riots, most famously the New York City flour riot of 1837. The crisis's political legacy was immediate, fueling the rise of the Whig Party and the election of William Henry Harrison in 1840. The eventual rec
0:06
The Panic of 1837 wasn't just an economic event; it reshaped America. With no central bank to stabilize credit after President Jackson dismantled the Second Bank, hundreds of state-chartered banks failed when land and cotton prices collapsed. Hunger driven by soaring unemployment led to food riots, most famously the New York City flour riot of 1837. The crisis's political legacy was immediate, fueling the rise of the Whig Party and the election of William Henry Harrison in 1840. The eventual rec
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