What caused the economic panics in the 1800s
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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.
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During the early 1800s, The USA was more known as America and it was almost a young nation.
It had developed as an autonomous country but political and economic structure of the United States was not completely formed.
Furthermore, Crop failures, Insurance and banking failure, abrupt drops in cotton prices, sudden drops in the stock market and cash and credit crises etc. instigated the economic panics in 1800s.
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