What were the main causes and consequences of the Panic of 1837, and how did it affect the presidency of Martin Van Buren?

The Panic of 1837 was caused by a combination of speculative lending practices, a decline in cotton prices, and restrictive lending policies by British banks. Its consequences included widespread bank failures, unemployment, and a severe economic depression. The crisis significantly undermined Martin Van Buren’s presidency, leading to his unpopularity and eventual defeat in the 1840 election.

Start Using PopAi Today