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Topic: Panic of 1837


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In the News (Thu 12 Nov 09)

  
  Stan Rubenstein / The Panic of 1837
After the panic of 1785 there was another slump followed by a third period of economic dislocation, but neither of these compared in intensity with the 1837 panic, which lasted four years, with many fortunes made and lost.
It is the latter point that is of major importance in the panic of 1837 and is closely linked with many of the other causes.
The boom that preceded the panic was not limited to government land but included city lots, urban acreage, swamps and agricultural areas.
www.cooperativeindividualism.org /rubenstein_stan_panic_of_1837.html   (437 words)

  
 Wikipedia: Panic of 1819
The Panic of 1819 was the first major financial crisis in the United States.
The primary cause of the Panic of 1819 was likely the credit tightening instituted by the directors of the Second Bank of the United States, who were skeptical of the risky lending policies practiced by the new wildcat banks in the West.
Panic of 1819: Reactions and Policies - by Murray N. Rothbard (in PDF format).
www.factbook.org /wikipedia/en/p/pa/panic_of_1819.html   (293 words)

  
 AllRefer.com - panic (Money, Banking, And Investment) - Encyclopedia
Panics are characterized by a general rush of investors to convert their assets into cash, with runs on banks and a rapid fall of the securities market.
The panic of 1837 was much more severe; it was brought on primarily by irresponsible financial operations in Western lands.
Confidence was not restored until after 1933, and the effects of the panic were felt throughout the Great Depression of the 1930s.
reference.allrefer.com /encyclopedia/P/panic.html   (453 words)

  
 Panic of 1837 - Wikipedia, the free encyclopedia
The Panic of 1837 was an economic depression, one of the most severe financial crises in the history of the United States.
The banking panic of 1837 was followed by exceedingly disturbed economic conditions and a long contraction to 1843 that was interrupted only by a brief recovery from 1838 to 1839.
The Panic as it affected Chicago: a reminiscence in light of the Panic of 1837.
en.wikipedia.org /wiki/Panic_of_1837   (3805 words)

  
 The Jacksonian Economy
In contrast, Temin's exoneration of Jackson (and Biddle) from complicity in the panic of 1837 and the depression of 1839-1843, both of which happened after Jackson had left the presidency, has proven to be less convincing to subsequent investigators.
Starting in 1837, panics and crises became more frequent, until at last the Federal Reserve System, which can be thought of as the Third Bank of the United States, appeared in 1914.
But it is equally important for providing less than convincing answers on the causes of the 1837 panic, the 1839 crisis, and the depression of the 1840s, as well as the wider ramifications of removing a pioneering and pretty good central bank from the scene.
eh.net /bookreviews/library/sylla.shtml   (2953 words)

  
 Panics - KS-Cyclopedia - 1912
The panic of 1837 was before Kansas came into existence as an independent political organization.
Concerning the panic in Kansas, Hazelrigg's history says: "Banks suspended in several cities, and hundreds of persons were involved in the severest distress.
The depression resulting from the panic was felt by all classes, and, for a time threatened to affect materially the prosperity of the state." The panic was perhaps more keenly felt in Leavenworth than in any other Kansas city.
skyways.lib.ks.us /genweb/archives/1912/p/panics.html   (1152 words)

  
 vu00-w04R   (Site not responding. Last check: 2007-10-03)
The Panic of 1837 stands among the most severe banking crises in U.S. history, marking the start of a business downturn from which the nation would not recover for six years.
Given the serious consequences of the panic for the rapidly evolving commercial and industrial sectors, it is thus not surprising that a number of hypotheses have emerged to disentangle the "true" causes from a host of aggravating domestic and international shocks.
These sources point to a new explanation which places neither the official distribution of the federal surplus to the states in the Spring of 1837 nor an international shock at the heart of the crisis, although the latter may have served as a catalyst in the final weeks.
www.vanderbilt.edu /Econ/wparchive/abstracts/vu00-w04R.html   (215 words)

  
 Financial Panic - Search Results - MSN Encarta
Panic, Financial, in economics, a crisis condition, marked by overpowering alarm, in financial or commercial circles, leading to a sudden and...
Asian Stock Market, Black Friday, 1869, Black Monday, 1987, Great Depression, panic of 1837, panic of 1857, panic of 1873, panic of 1893, panic of...
The financial panic of 1907 resulted in the Federal Reserve Act of 1913.
encarta.msn.com /Financial_Panic.html   (141 words)

  
 Bank Panic Handout   (Site not responding. Last check: 2007-10-03)
In 1837, "Wild Cat Banks" collapsed at the same time that specualtion on internal improvements destroyed the credit of many state governments.
When inventory stocks of manufactured goods exceeded the demand for those goods because of the financial market, the depression deepened in the North as thousands of workers were laid off during the financial downturn.
Panics continued approximately every twenty years after the Civil War up to the Great Depression.
mgagnon.myweb.uga.edu /Tbanks.htm   (313 words)

  
 EDSITEment - Lesson Plan
The Panic of 1837 and the Presidency of Martin Van Buren
Discuss President Van Buren’s response to the Panic of 1837 and its aftermath.
Share with the class a secondary account of the Panic of 1837 and President Van Buren, such as the section “Economic Panic of 1837” in Martin Van Buren: Domestic Affairs from the EDSITEment resource The American President.
edsitement.neh.gov /view_lesson_plan.asp?id=610   (3077 words)

  
 The financial panic of 1837
The financial panic of 1837 was a startling result of the unbounded speculation, and the executive experiments on the finances, of the preceding epoch.
The first era of bank-expansion in the United States was due to the abrogation of the charter of the National Bank in 1811, and to the business activity which followed the close of the second war with Great Britain.
The panic of 1837 was not due solely to the causes above enumerated.
www.publicbookshelf.com /public_html/The_Great_Republic_By_the_Master_Historians_Vol_III/thepanic_ce.html   (706 words)

  
 Panics
- To quell Panic of 1837 (expansion and over-extended credit) the House sanctioned the use of Treasury notes, provided that they didn't exceed $10 million; Congress's efforts to stabilize the nation's currency failed to lift the depression, continued to plague the country for the next seven years.
Panic did not subside, economy continued its slump through the end of the decade.
Panic on Wall Street : A Classic History of America's Financial Disasters with a New Exploration of the Crash of 1987.
www.kipnotes.com /Panics.htm   (1590 words)

  
 panic - HighBeam Encyclopedia
PANIC [panic] crisis in financial and economic conditions, marked by public loss of confidence in the financial structure.
What to do when SSRIs fail: eight strategies for optimizing treatment of panic disorder.
Panic disorder and agoraphobia in consecutively referred children and adolescents.
www.encyclopedia.com /doc/1E1-panic.html   (543 words)

  
 The Story of the Church - The Panic of 1837
At a meeting of January 2, 1837, the Kirtland Safety Society was formed as contemplated, not as a bank, but to all intents and purposes doing the business of a bank.
By August, 1837, Joseph Smith felt that he was in honor compelled to warn people against the circulation of these notes.
The big banks struggled against the current, but on the 9th of May, 1837, $652,000 in specie was withdrawn from vaults of the city banks in New York.
www.centerplace.org /history/misc/soc/soc27.htm   (1606 words)

  
 The History Box |  The Panic Of 1837
Unfortunately no practical measures were at first instituted to relieve the distresses of the working classes, and advantage was taken of the opportunity by politicians and demagogues to inflame the passions of the ignorant and the vicious.
The economic harvest of the Jackson years is the Panic of 1837, with an ensuing depression.
The sub-treasury system of the United States is an outgrowth of the panic of 1837.
thehistorybox.com /ny_city/panics/panics_article5a.htm   (629 words)

  
 Panic of 1837
Westerners were dismayed by this action, and a major bank crisis awaited the incoming administration of Martin Van Buren, in early 1837.
America recovered from the Panic of 1837, but the date of May 10 shows up on many privately-struck tokens frPanic of 1837, but the date of May 10 shows up on many privately-struck tokens from this era.
Memorabilia related to Panic of 1837 is at auction on eBay.
www.u-s-history.com /pages/h967.html   (571 words)

  
 Louisiana Timeline: Year 1837
The panic of 1937 begins over the next year the banks in Louisiana suspend specie payments.
During a financial panic he an his partner Oliver Beirne are one of the few companies to extend long-term credit.
A nationwide bank panic results and 14 local banks closed their doors the day after President Jackson removes deposits from the Bank of the United States.
www.enlou.com /time/year1837.htm   (580 words)

  
 Seated Liberty No Stars Dimes 1837-1838
By the end of the “Jacksonian Era” in 1837, the United States was ready for a change in coinage design that reflected its new power and prestige.
As executed on the new 1837 dime (and half dime, as well), the seated Liberty figure rests within clear, uncluttered fields.
The first of the 1837 No Stars Seated Liberty dimes were approximately 30 proofs that were distributed by Director Patterson as presentation pieces (only about 20 pieces are known to exist today).
www.oldcoinshop.com /coinhistory/10c-1837-38.htm   (1096 words)

  
 Free Essays on Bank War
Biddle was not, though, the cause of the Panic of 1837.
The Panic of 1837 was not caused by President Jackson’s actions.
Blaming the Panic of 1837 on President Jackson is an ignorant statement.
www.123student.com /770.htm   (1523 words)

  
 The Panic of 1837
Following the panic of 1785, another slump ensued, and then another.
In 1837, however, the young nation endured its most serious depression yet.
The major cause of the panic, however, was the economic impact of land speculation.
www.landandfreedom.org /ushistory/us8.htm   (554 words)

  
 Mount Holyoke in the context of the 1837 Depression   (Site not responding. Last check: 2007-10-03)
Mount Holyoke in the context of the 1837 Depression
The financial crises of 1837 was one of the most serious economic depressions in the history of the U.S. The effects of this Panic was left unmatched by any depression that had ever occurred prior to 1837.
The whole pattern of American life thus mirrored the prevailing mood and state of depression” (Rezneck, 1935, pg.
www.mtholyoke.edu /~park20d/classweb/website/home.html   (166 words)

  
 L. Newman: Romanticism and Green Criticism   (Site not responding. Last check: 2007-10-03)
Through the early 1840s, the U.S. was mired in a deep,long-term depression following the Panic of 1837.
People of all kinds understood the panic and ensuing depression as a final refutation of the rising system's claim to legitimacy.
It would have been impossible, even in Concord, certainly in Boston, to avoid daily confrontation with the brutal immiseration of thousands that was the direct result of the Panic of 1837.
prometheus.cc.emory.edu /panels/3A/L.Newman.html   (2694 words)

  
 American Experience | The Presidents | Martin Van Buren | PBS
As president, however, Van Buren maintained Jacksonian policies that magnified an economic downturn, leading to the Panic of 1837.
At the end of his term, Jackson stipulated that all public lands must be bought with gold or silver.
Soon after Van Buren took office, the nation was gripped in a financial panic as citizens rushed to exchange their state-issued paper money for hard currency.
www.pbs.org /wgbh/amex/presidents/08_van_buren/index.html   (429 words)

  
 AEH: AMER.MONEY: Jacksonian Monetary Policy, Specie Flows, and the Panic of 1837   (Site not responding. Last check: 2007-10-03)
These sources place neither the official distribution of the federal surplus nor an international shock at the center.
Rather, a series of interbank transfers of government balances and a policy-induced increase in the demand for coin in the Western states drained the largest New York City banks of their specie reserves and rendered the panic inevitable.
Bibliography: Rousseau, Peter L. "Jacksonian Monetary Policy, Specie Flows, and the Panic of 1837." The Journal of Economic History 62, no.
www.eh.net /pipermail/abstracts/2002-June/000290.html   (142 words)

  
 [No title]   (Site not responding. Last check: 2007-10-03)
This is the veto that ultimately precipitated the economic problems, culminating in the Panic of 1837.
This is Clay's speech on the bill that precipitated the Panic.
A summary of the Van Buren administration which was devastated by the Panic of 1837.
www.pearsoncustom.com /allpages/panicof1837_bot.html   (144 words)

  
 New Orleans Mint Coins: An Old US Mint, Southern Coins, and New Orleans History.
The Panic of 1837 caused men to stand idle, and women and children to beg for food.
By early 1837, every bank in the United States was forced to suspend specie payments.
The Panic of 1837 dragged on into the 1840s, and to a great extent, crippled the Van Buren administration.
www.us-coin-values-advisor.com /new-orleans-mint-coins.html   (3206 words)

  
 Panic of 1837
The immediate cause of the "Panic of 1837" was President Jackson's decision to allow the sale of land to those paying in gold or silver only.
This burst the bubble of land speculation based on borrowed money.
The underlying reason for the Panic was the tremendous increase in the number of banks and the amount of paper money in circulation that followed the closing of the Bank of the United States.
www.multied.com /Ant/1837.html   (71 words)

  
 Panic of 1837
Van Buren was elected president in 1836, but he saw financial problems beginning even before he entered the White House.
He inherited Andrew Jackson's financial policies, which contributed to what came to be known as the Panic of 1837.
It turned out to be the worst economic depression that the young nation had yet known.
www.americaslibrary.gov /cgi-bin/page.cgi/aa/presidents/buren/panic_1   (79 words)

  
 PEAES 2007 Conference - The Panic of 1837: Getting By and Going Under in a Decade of Crisis
Few people predicted the dire consequences of abandoning their long cherished reliance on gold and silver as the foundation of all true wealth, and the dangers of advancing personal and national wealth with open-ended credit, bank loans, and personal indebtedness.
It was all too easy to blame the Andrew Jackson administration for the swift retrenchment of these inflationary benefits in 1836, and to decry the “bank war” that many Americans then — and historians since — have seen as a central cause for the Panic of 1837.
It also points toward unforeseen, and previously unexamined, consequences of the extended economic crisis that gripped every region of the country for years to come.
www.librarycompany.org /Economics/2007Conference   (311 words)

  
 Biography of Martin Van Buren
The country was prosperous, but less than three months later the panic of 1837 punctured the prosperity.
Basically the trouble was the 19th-century cyclical economy of "boom and bust," which was following its regular pattern, but Jackson's financial measures contributed to the crash.
Declaring that the panic was due to recklessness in business and overexpansion of credit, Van Buren devoted himself to maintaining the solvency of the national Government.
www.whitehouse.gov /history/presidents/mb8.html   (609 words)

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