Panic of 1837
 Van Buren is president Heavy borrowing from citizens Investing of borrowed moneyBackground
   Jackson cancels Bank of U.S.   Specie Circular   Failure of wheat crops; high grain prices.   Failing British Banks...
 Record unemployment rate Failure of New York banks Van Buren blamed, Whig Party takes 1840  electionEffects
 Divorce Bill 1838-1839: Brief recovery, soon ended Sub-treasury systemRecovery Efforts
   Tariff of 1842    ◦   Reverse effects of Compromise Tariff of 1833    ◦   Raised average rate to 40%    ◦   New paymen...
   http://www.publicbookshelf.com/public_html/The_Great_Republic_By_the_Master_Historians_Vol_    III/thepanic_ce.html  ...
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Panic of 1837

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Panic of 1837

  1. 1. Panic of 1837
  2. 2.  Van Buren is president Heavy borrowing from citizens Investing of borrowed moneyBackground
  3. 3.  Jackson cancels Bank of U.S. Specie Circular Failure of wheat crops; high grain prices. Failing British Banks Land speculationCauses
  4. 4.  Record unemployment rate Failure of New York banks Van Buren blamed, Whig Party takes 1840 electionEffects
  5. 5.  Divorce Bill 1838-1839: Brief recovery, soon ended Sub-treasury systemRecovery Efforts
  6. 6.  Tariff of 1842 ◦ Reverse effects of Compromise Tariff of 1833 ◦ Raised average rate to 40% ◦ New payment system ◦ International trade declines ◦ Caused split in Whig party ◦ Repealed by Walker TariffFinal Recovery
  7. 7.  http://www.publicbookshelf.com/public_html/The_Great_Republic_By_the_Master_Historians_Vol_ III/thepanic_ce.html http://www.u-s-history.com/pages/h967.html http://thehistorybox.com/ny_city/panics/panics_article5a.htmSources
  8. 8. The End

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