Panic of 1837

Examples of Panic of 1837 in the following topics:

• The Panic of 1837

  • The Panic of 1837 was a financial crisis, or market correction, driven by speculative fever.
  • The Panic of 1837 was influenced by the economic policies of President Jackson.
  • Martin Van Buren became president in March of 1837, five weeks before the Panic began; he was later blamed for the Panic.
  • Whig cartoons depicted the economic challenges caused by the Panic of 1837.
  • Analyze the political and economic circumstances leading up to the Panic of 1837

• Economic Booms and Busts

  • The Panic of 1819 was the first major financial crisis in the United States, and occurred during the political calm of the Era of Good Feelings.
  • In 1837, the nation once again faced a financial crisis as a result of the speculative fever of the Market Revolution, known as the Panic of 1837.
  • The Panic of 1837 also arrested business growth for several years.
  • Run on the Seamen's Savings' Bank during the Panic of 1857
  • The widespread use of bank notes contributed to the economic crises of 1819 and 1837.

• The Election of 1840

  • In the wake of the Panic of 1837, William Henry Harrison won the Election of 1840 with his "log cabin campaign" appeal to ordinary people.
  • The United States presidential election of 1840 saw President Martin Van Buren fight for reelection against the backdrop of economic depression.
  • The three leading candidates were William Henry Harrison, a war hero and the most successful of Van Buren's opponents in the 1836 election; Winfield Scott, another general and a hero of the War of 1812 who was active in skirmishes with the British in 1837 and 1838; and Henry Clay, the Whigs' congressional leader and former Speaker of the House.
  • The convention came on the heels of a string of Whig electoral losses.
  • In the wake of the Panic of 1837, Van Buren was widely unpopular, and Harrison, following Andrew Jackson's strategy, ran as a war hero and man of the people.

• Bankers and Lawyers

  • The Second Bank of the United States, chartered in 1816, played a major role in the controversies of this period.
  • This resulted in the Panic of 1819.
  • The instability of this period set the stage for the Panic of 1837.
  • Nicholas Biddle was an American financier who served as president of the Second Bank of the United States and was a political target of President Andrew Jackson.
  • Analyze the Second Bank of the United States' role in American politics of the early 19th century

• The Limits of Prosperity

  • The United States experienced the first major financial crisis of the early republic during the Panic of 1819.
  • Speculative fever once again crippled the U.S. economy in the Panic of 1837.
  • Following a period of runaway inflation, on May 10, 1837, in New York City, banks began to accept payment only in specie ("hard" money of gold and silver coinage), forcing a dramatic, deflationary backlash.
  • The Panic was followed by a five-year depression, resulting in the failure of banks and levels of unemployment which were unprecedented at that time.
  • Whig poster illustrates unemployment in 1837 through the lens of an American family, whose patriarch sits forlornly at a table while rent collectors enter the door.

• The Bank War and Economic Boom

  • In the presidential campaign of 1832, the Bank of the United States was the issue dividing Jacksonian Democrats from National Republicans.
  • The Bank War refers to the political struggle that developed over the issue of rechartering the Second Bank of the United States (BUS) during the Andrew Jackson administration (1829-1837).
  • This episode of the Bank's existence ended in 1841 with liquidation of the institution.
  • This policy arguably led to the Panic of 1837.
  • Analyze the significance of the Bank war in the development of 19th-century America

• The Panic of 1819

  • The Panic of 1819 was the first major financial crisis in the United States and occurred during the political calm of the "Era of Good Feelings."
  • The Panic of 1819 was the first major financial crisis in the United States and occurred during the political calm of the "Era of Good Feelings."
  • The inflated economic bubble burst in 1819, resulting in the Panic of 1819.
  • Many remedies to the Panic of 1819 were proposed, including the following:
  • He acquiesced in suspending specie payments to bank depositors, setting a precedent for the Panics of 1837 and 1857.

• Movement South and Westward

  • President Jackson (1829-1837) opposed the successor to Hamilton's National Bank, which he believed favored the entrenched interests of the East against the West.
  • Their actions shook confidence in the nation's financial system, and business panics occurred in both 1834 and 1837.
  • The steamboat made river traffic faster and cheaper, but development of railroads had an even greater effect, opening up vast stretches of new territory for development.
  • Like canals and roads, railroads received large amounts of government assistance in their early building years in the form of land grants.
  • But unlike other forms of transportation, railroads also attracted a good deal of domestic and European private investment.

• Panic

  • Panic is a sudden terror which dominates thinking and often affects groups of people.
  • Panics typically occur in disaster situations, such as during a fire, and may endanger the overall health of the affected group.
  • These panics are generally fuelled by media coverage of social issues (although semi-spontaneous moral panics do occur and some moral panics have historically been fueled by religious missions, governmental campaigns, and scientific mobilizing against minority groups that used media outlets to further their claims), and often include a large element of mass hysteria.
  • A moral panic is specifically framed in terms of morality, and usually expressed as outrage rather than unadulterated fear.
  • Though not always, very often moral panics revolve around issues of sex and sexuality.

• Panic Disorder and Panic Attacks

  • A panic attack is a sudden period of intense anxiety; if these attacks occur often, they may indicate a panic disorder.
  • People with panic disorder experience recurrent (more than one) and unexpected panic attacks, along with at least one month of persistent concern about additional panic attacks, worry over the consequences of the attacks, or self-defeating changes in behavior related to the attacks (such as withdrawing from social activities out of fear of having an attack) (APA, 2013).
  • People with panic disorder may become so afraid of having panic attacks that they experience what are known as anticipatory attacks—essentially panicking about potential panic attacks and entering a cycle of living in fear of fear.
  • Cognitive behavioral therapy (CBT) is the psychotherapeutic treatment of choice for panic disorder; several studies show that 85 to 90 percent of panic-disorder patients treated with CBT recover completely from their panic attacks within 12 weeks.
  • Some of the physical manifestations of a panic attack can include dizziness, shortness of breath, sweating, trembling, feelings of faintness, chest pain, or a fear of losing control.