What led to The Panic of 1837?

Summary and Definition of Panic of 1837. Definition and Summary: The Panic of 1837 was a crisis in financial and economic conditions in the nation following changes in the banking system initiated by President Andrew Jackson and his Specie Circular that effectively dried up credit. read more

The Panic of 1837 was a financial crisis in the United States that touched off a major recession that lasted until the mid-1840s. Profits, prices, and wages went down while unemployment went up. Pessimism abounded during the time. read more

Panic of 1837 Martin Van Buren was better at acquiring presidential power than using it for himself. Van Buren was elected president in 1836, but he saw financial problems beginning even before he entered the White House. He inherited Andrew Jackson's financial policies, which contributed to what came to be known as the Panic of 1837. read more