posted by Spencer on .
Can some one explain to me in baby words what the panic of 1819 was?
like it was caused by the united states bank because...how?? like its says stuff about loans and speculators but i don't know what that means!
Remember that the country was VERY young then and still getting its own money system established -- separate from the British or any other system. You'll need to also become clear on who owned banks, how they were (or weren't) controlled, etc.
"Baby words." Do not talk down to yourself, Spencer.