Upload
mark-klopfenstein
View
1.746
Download
1
Tags:
Embed Size (px)
DESCRIPTION
Citation preview
James Monroe was president Occurred during the Era of Good Feelings First major financial crisis of United States Ended in 1823
Overspeculation in frontier lands Second Bank of the United States shifted to
more conservative policy Price of cotton declined Foreign competition in manufacturing
Many speculative (“wildcat”) western banks failed
Widespread mortgage foreclosures Poor western families were severely hurt Thousands of debtors imprisoned High unemployment Impaired agriculture and manufacturing Price of land dropped significantly
Congress passed legislation to provide relief from debts and abolish debtors’ prisons
Charitable organizations began serving soup and distributing clothes
‣Monroe didn’t really do anything to resolve the depression
Allowed Andrew Jackson to gain popularity among poorer classes
Strengthened Sectionalism between North and South
Increased hostility against banks
http://www.buzzle.com/articles/panic-of-1819.html
http://www.u-s-history.com/pages/h277.html http://www.digitalhistory.uh.edu/database/
article_display.cfm?HHID=574 Pic1:http://www.whitehouseresearch.org/
assetbank-whha/action/viewAsset?id=113 Pic 2:http://rap361.com/?p=5329 Pic 3:http://blogs.ocfamily.com/2010/12/07/just-
do-one-thing/soup-kitchen/ Pic4:http://tvtropes.org/pmwiki/pmwiki.php/
Main/AndrewJackson