Answered

Looking for trustworthy answers? Westonci.ca is the ultimate Q&A platform where experts share their knowledge on various topics. Get expert answers to your questions quickly and accurately from our dedicated community of professionals. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.

Which of the following was a direct cause of the Panic of 1837? a The first Bank of the United States closed. b Congress lowered protective tariffs. c The federal government stopped accepting paper money for the purchase of land. d President Jackson allocated too much money to the American System.

Sagot :

magfulltime

Answer:

c) The federal government stopped accepting paper money for the purchase of land.

Explanation:

The Panic of 1837 was an emergency in financial and monetary conditions in the country following changes in the managing an accounting framework started by President Andrew Jackson and his Specie Circular that successfully evaporated credit.

The different reasons for the Panic of 1837 were the disappointment of the wheat crop, discouragement in Great Britain that prompted prohibitive loaning strategies and a financial crisis.

We hope our answers were useful. Return anytime for more information and answers to any other questions you have. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Thank you for visiting Westonci.ca. Stay informed by coming back for more detailed answers.