Crop failures, Insurance and banking failure, drops in cotton prices, rapid speculation in land, sudden plunges in the stock market and currency and credit crises etc caused the economic panics in 1800s. The United States of America during this period was very young nation and thus these panics devastated her economy.
crop failures, insurance and banking failure, drops in cotton prices, rapid speculation in land, sudden plunges in the stock market and currency and credit crises
