15 ene 1819 año - Panic of 1819

Descripción:

The first major financial crisis since the Constitution had been ratified disrupted
the Era of Good Feelings in 1819. When they tightened credit in a delayed attempt to contain inflation, the Panic of 1819 was due to the Second Bank of the U.S. Unemployment, closure of state banks, bankruptcies, and debt incarceration spread throughout the country. Since most people were still in debt as they speculated about land after the war, the West was struck the hardest by the fallout. The Bank of the United States repossessed vast amounts of western farmland in 1819. In the West, the global downturn had changed many voters' political opinions. Westerners began calling for land reform and strong resistance to the national bank was voiced. State and city governments had started to discuss public sector reform problems affecting the vulnerable more efficiently. Nationalistic values were challenged as a result of the economic catastrophe. The Panic portrayed the nation's shift into an independent economy from its
colonial trading status with Europe. Consequently, national commitment to addressing poverty challenges
has contributed to public school programs. Once again, popular support was strong for defensive tariffs.

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