JACKSONIAN DEMOCRACY 1825 1850
JACKSONIAN AMERICA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Which of the following did not play a role in the Panic of 1837? Excessive government debt.
Detailed explanation-2: -The Panic of 1837 was partly caused by Jackson’s order that the government’s money remain in the Bank of the United States. The federal government stopped accepting banknotes issued by state banks as payment for buying public land.
Detailed explanation-3: -Virtually the whole nation felt the effects of the panic. Connecticut, New Jersey, and Delaware reported the greatest stress in their mercantile districts. In 1837, Vermont’s business and credit systems took a hard blow. Vermont had a period of alleviation in 1838 but was hit hard again in 1839–1840.
Detailed explanation-4: -Which of the following statements accurately describes the economic conditions leading into the Panic of 1837? The economy was vulnerable going into Van Buren’s presidency due to Jackson and Congress’s elimination of the B.U.S. and the gold or silver requirements of the Specie Circular.