- Purchase/rental options available:
Abstract (Lang: English):
The Panic of 1819 grew out of a trade war between the United States and Great Britain that sharply curtailed U.S. exports to plantations in the British Caribbean. Wheat farmers who provisioned the Caribbean were hit hardest and their failure to repay debts led to a cascade of bank failures. The resulting panic exacerbated North-South tensions and altered United States’ exports, contributing to the emergence of cotton as the nation’s primary export crop.