Question

Can some one explain to me in baby words what the panic of 1819 was?

like it was caused by the united states bank because...how?? like its says stuff about loans and speculators but i don't know what that means!


thanks

Answer 1

http://en.wikipedia.org/wiki/Panic_of_1819

from http://www.google.com/search?q=panic+of+1819+&rls=com.microsoft:en-us:IE-SearchBox&ie=UTF-8&oe=UTF-8&sourceid=ie7&rlz=1I7GGIE_en

Remember that the country was VERY young then and still getting its own money system established -- separate from the British or any other system. You'll need to also become clear on who owned banks, how they were (or weren't) controlled, etc.

Answer 2

"Baby words." Do not talk down to yourself, Spencer.