1 Jan 1819 Jahr - The Panic of 1819

Beschreibung:

This was a scary time for the US as a decline in real estate and an inability to get loans led to inflation. This caused imports and prices to fall, and then the price of cotton collapsed in British markets. This was all made worse by the Second Bank of the US. This relates to the trade part of my theme as it caused a drastic drop in trade which affected everyone in the US. This was the first of many US economic scares and as such is a big moment in history.