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24 August, 12:46

Which of the following led to the panic of 1837?

a. National depression

c. Women voting

b. Political unrest

d. Child labor issues

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Answers (1)
  1. 24 August, 14:17
    0
    The answer is A) National depression.

    The Panic was built on a speculative fever. The bubble burst on May 10, 1837 in New York City, when every bank stopped payment in specie (gold and silver coinage). The Panic was followed by a five-year depression, with the failure of banks and record high unemployment levels.
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