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The '''Panic of 1837''' was a financial crisis that struck the United States [[economy]] in the May of 1837, during the presidency of [[Martin van Buren]]. Several causes have been blamed for the crisis, but perhaps the most common is excessive land [[speculation]], which followed reckless lending policies from state banks. State banks had more power when then-president[[Andrew Jackson]] did everything in his power to cripple the Second Bank of the United States, including switching money from this bank into state banks [http://www.americaslibrary.gov/cgi-bin/page.cgi/aa/presidents/buren/panic_2].

The '''Panic of 1837''' was a financial crisis that struck the United States [[economy]] in the May of 1837, during the presidency of [[Martin van Buren]]. Several causes have been blamed for the crisis, but perhaps the most common is excessive land [[speculation]], which followed reckless lending policies from state banks. State banks had more power when then-president [[Andrew Jackson]] did everything in his power to cripple the Second Bank of the United States, including switching money from this bank into state banks [http://www.americaslibrary.gov/cgi-bin/page.cgi/aa/presidents/buren/panic_2].

[[Category:United States History]]

[[Category:United States History]]