Panic of 1837 (mar 15, 1837 – apr 28, 1845)
Description:
Major recession that lasted till the mid 1840s. Profits, prices, and wages went down along with employment rates dropping drastically. The main cause of this recession was due to President Jackson's decision to not renew the second National Bank of the US which lead to many government funds being withdrawn from the non-existent bank.Added to timeline:
Date:
mar 15, 1837
apr 28, 1845
~ 8 years