History, 18.08.2019 12:00 Sg496080

National and state bank policies in the 1830's contributed to: inflation the panic of 1837 increased national debt depression

Answers: 1

Show answers

Answers

National and State Bank policies in the 1830's contributed to the Inflation, The panic increased national debt depression because...

1833 - President Jackson went against the bank by recalling deposits of the federal government, and putting them to state banks. Meaning lots of useless money was being churned out (every bank had a special type of money) and countless loans were being issued without consideration and thought. During that, federal revenue due to land had greatly increased

<1835 - He used this as an "opening" to pay of the national debts, however, this was quickly demolished

1836 - The congress passed a law that required the federal surplus to be shared to the states in four payments, later on the Jackson Administration started the "Specie Circular" (where payments for federal land had to be paid in small installments using coins!)

In March 1837, the new elected president: Martin Van Buren had a big job on his hands; there was an festering economic crisis due to the free spirited bank practices in conjunction with crazy credits etc. it wasn't looking good
May 1837; NYC Banks stopped specie payments and with this, this created a new path for a bad economic recession. Due to this, Van Buren was under so many factors of pressure, he decided not to stop the Specie Circular. He created a set of economic proposals (September ) which was a key date; a self reliant treasury congress didn't want to accept. Meaning the economy plummeted in 1839 and didn't improve until 1843.

Answer from: Quest

richard milhous nixon (january 9, 1913 – april 22, 1994) was the 37th president of the united states, serving from 1969 to 1974, when he became the only president to resign (quit). he is also known for corruption and the watergate scandal which resulted in the public losing trust in him and his resignation.

Answer from: Quest

The colony was represented by the house of burgesses

Another question on History

History, 21.06.2019 22:30

Did president truman warn japan against a second bomb attack

Answers: 1

Answer

History, 22.06.2019 00:20

Before the invention of the loom in 1785, textile manufacturing was: a) regulated under the guild system. b) performed by children working in factories. c) produced in rural cottages under a putting-out system. d) conducted by british colonists overseas.

Answers: 1

Answer

History, 22.06.2019 02:00

"if i have seen farther than others," said newton, "it is because i have stood on the shoulders of giants." who were the giants to whom newton was referring? could this be said of any scientific accomplishment? explain.

Answers: 1

Answer

History, 22.06.2019 07:30

How did the united states respond when north vietnam attacked a us warship and sent troops to south vietnam in the early 1960s? a.the united states declined to assist south vietnam against the north. b.us leaders authorized south vietnam to invade north vietnam. c.the president did not sign the gulf of tonkin resolution. d.congress authorized the president to escalate the conflict.

Answers: 1

Answer

You know the right answer?

National and state bank policies in the 1830's contributed to: inflation the panic of 1837 increase...

Questions