1 jan 1819 ano - The Panic of 1819

Descrição:

Was the first major financial collapse in American history. Occurred when growth of transatlantic trade unexpectedly halted, intense cotton price declines, a congressional order in 1817 requiring land to be purchased with hard currency, a reduction of credit by the National Bank to curb inflation, and the closing of numerous factories due to foreign competition. While the panic was over by 1823, it left a long-lasting impact on american politics - most notably a distrust of banks and financers.

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