Panic of 1837 (may 10, 1837 – jan 1, 1843)
Description:
An economic crisis brought about by the rapid inflation caused by state banks. After the Bank War ended, state banks began to fill the void the National Bank left. However, there was much less regulation on these banks, and they began to overprint currency, which caused a devaluing of US money.Added to timeline:
Date:
may 10, 1837
jan 1, 1843
~ 5 years and 7 months