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The Panic of 1819 was the first widespread and durable financial crisis in the United States that slowed westward expansion in the Cotton Belt and was followed by a general collapse of the American economy that persisted through 1821. The Panic heralded the transition of the nation from its colonial commercial status with Europe toward an ...
The Panic of 1819 unleashed a wave of popular resentment against the Second Bank of the United States (the "national bank"), which handled various fiscal duties for the U.S. government after its establishment in 1816. [4]
[45] [46] When the U.S. markets collapsed in the Panic of 1819—a result of global economic adjustments [40] [47] —the bank came under withering criticism for its belated tight money policies—policies that exacerbated mass unemployment and plunging property values. [48]
The Panic of 1837 was a financial crisis in the United States that began a major depression which lasted until the mid-1840s. Profits, prices, and wages dropped, westward expansion was stalled, unemployment rose, and pessimism abounded.
The most perfect expression of the Era of Good Feelings was Monroe's country-wide Goodwill tour in 1817 and 1819. His visits to New England and to the Federalist stronghold of Boston, Massachusetts, in particular, were the most significant of the tour. [34] Here, the descriptive phrase "Era of Good Feelings" was bestowed by a local Federalist ...
Andrew R. L. Cayton. The Fragmentation of "A Great Family": The Panic of 1819 and the Rise of the Middling Interest in Boston, 1818–1822. Journal of the Early Republic, Vol. 2, No. 2 (Summer, 1982), pp. 143–167; Edwin J. Perkins. Langdon Cheves and the Panic of 1819: A Reassessment.
The Panic of 1819: The First Great Depression (2019) Comprehensive scholarly history of the era in the United States; excerpt; Bruner, Robert F.; Carr, Sean D. (2007), The Panic of 1907: Lessons Learned from the Market's Perfect Storm, Hoboken, New Jersey: John Wiley & Sons, ISBN 978-0-470-15263-8
The Panic of 1819 sparked a backlash against nationalist policies, and many of those opposed to the nationalist policies rallied around William H. Crawford until he had a major stroke in 1823. [150] After the 1824 election, most of Crawford's followers, including Martin Van Buren, gravitated to Andrew Jackson, forming a major part of the ...