1. Post War of 1812
... panic of 1819 was the first major financial crisis in the United States. It featured widespread foreclosures, bank failures, unemployment, and a slump in agriculture and manufacturing. It marked the end of the economic expansion that had followed the War of 1812. The primary cause of the Panic of 1819 was likely the tightening instituted by the Second Bank of the United ... manufacturing faced from foreign goods, as well as a downturn in exports, in particular cotton. The factory and farm failures resulting from bank failures and low prices caused rampant unemployment. The period followi...
- Word Count: 688
- Approx Pages: 3
- Grade Level: Undergraduate