DaddyLongNeck DaddyLongNeck

01-09-2021
History

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By 1834, the South had overproduced cotton. This led to the “Panic of 1837,” which makes the price of what three things drop?

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BugMeNot BugMeNot

01-09-2021

Answer:

Gold and silver, land, and cotton.

Explanation:

The Panic of 1837 was a financial catastrophe that precipitated a multi-year economic downturn in the United States. The United States' and the United Kingdom's fiscal and monetary policies, global gold and silver movements, a collapsing land bubble, and declining cotton prices were all to blame.

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