USA HISTORY

Detailed explanation-1: -The Panic of 1837 was a financial crisis, or market correction, driven by speculative fever. The Panic of 1837 was influenced by the economic policies of President Jackson. Martin Van Buren became president in March of 1837, five weeks before the Panic began; he was later blamed for the Panic.

Detailed explanation-2: -Historians have traditionally attributed the Panic of 1837 to a real estate bubble and erratic American banking policy. Most speculation concerned western land opened to settlement after Indian removals, but northeastern forests were among the most overvalued holdings.

Detailed explanation-3: -The economic Panic of 1837 led to widespread unemployment, economic depression, devaluing of cotton and paper money, and bank and financial failures. President Van Buren blamed the crisis on the easy availability of credit and rampant speculation.

Detailed explanation-4: -The Panic of 1873 One of the worst happened in 1873 – during the time of the Freedman’s Bank. The panic started with a problem in Europe, when the stock market crashed. Investors began to sell off the investments they had in American projects, particularly railroads.

Detailed explanation-5: -In 1832, Andrew Jackson ordered the withdrawal of federal government funds from the Bank of the United States, one of the steps that ultimately led to the Panic of 1837. The Panic of 1837 was a financial crisis that had damaging effects on the Ohio and national economies.