Panic of 1819 (nov 5, 1819 – mar 6, 1821)
Description:
it created turmoil in the U.S. economy; followed period of economic growth, inflation, and land speculation, which destabilized the economy. The National Bank called in its loans, but many couldn’t pay them. Because no nationally organized political opposition resulted, Monroe was easily reelected. (caused by the Second Bank of America)Added to timeline:
Date:
nov 5, 1819
mar 6, 1821
~ 1 years and 4 months