History Paragraph summary

History Paragraph summary - Dhaval Rana US History- 10...

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Dhaval Rana US History- 10 March 2, 2008 Paragraph Summary 1. Panic of 1819- The Panic of 1819 was the first major financial crisis in the United States , after the depression of the late 1780s (which led directly to the establishment of the dollar and, perhaps indirectly, to the calls for a Constitutional Convention). It featured widespread foreclosures , bank failures, unemployment , and a slump in agriculture and manufacturing . It marked the end of the economic expansion that had followed the War of 1812 . However, things would change for the US economy after the Second Bank of the United States was founded in 1816; the bank was created in response to the vast spread of bank notes across United States private banks, due to inflation brought on by the debt the nation was in after the war of 1812 ended. 2. Missouri Compromise- The Missouri Compromise was an agreement passed in 1820 between the pro-slavery and anti-slavery factions in the United States Congress , involving primarily the regulation of slavery in the western territories . It prohibited slavery in the former
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History Paragraph summary - Dhaval Rana US History- 10...

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