jan 1, 1819 - Panic of 1819

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The Panic of 1819 was the first major peacetime financial crisis in the United States. It was followed by a general collapse of the American economy that persisted through 1821. The Panic announced the transition of the nation from its colonial commercial status with Europe toward an independent economy, increasingly characterized by the financial and industrial imperatives of central bank monetary policy, which made it susceptible to boom and bust cycles.
http://what-when-how.com/the-american-economy/distribution-act-1836/

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