The passage indicates that the Panic of 1837 was caused by "Jackson's banking policies and his unsuccessful plan to curb inflation." Therefore, the correct answer is:
A Jackson's banking policies
"In 1834, a new political party had formed to oppose Jackson. Its members called themselves Whigs, after an English political party that opposed the monarchy, to make the point that Jackson was using his power like a king. The Whig Party favored the idea of a weak president and a strong Congress. Unable to agree on a candidate, the Whigs chose four men to run against Van Buren. Because of this indecision, and with backing from Jackson, Van Buren won the election.
Shortly after Van Buren took office, the country experienced the Panic of 1837, a severe economic depression. Jackson's banking policies and his unsuccessful plan to curb inflation contributed to the panic. But people blamed Van Buren."
Based on the passage, what caused the Panic of 1834?
A Jackson's banking policies
B The creation of the Whig Party
C The election of Van Buren
D The American Revolution
1 answer
1 answer