During the early 1830s, the United States was experiencing a period of expansion and prosperity. This was accounted for by the construction of new railroads and canals. Land was sold rapidly by the government. The government was in an economic boom and with that became the first great depression.
The Bank of the United States charter was supposed to be renewed on March 3 of 1836, but President Andrew Jackson refused to renew the charter. The demise of the Bank of the United States lead to all of this because state banks used this to expand their discounts and new banks were being established. With the sale of land and the Tariff of 1833, the Treasury Departments purse increased. By 1835, all
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