Panic of 1819

The War of 1812 was a war fought between Britain and the United States, where the United States opposed the fact that Britain was forcing people to work on British Navy ships, blockading the European continent, and taking away many rights from them (trading rights in particular). While the United States felt they were being taken advantage of, Britain could not understand how the U.S. would not want to side with them against the French, …

…financial crisis, prices of goods and food fell drastically, and for six years there was a depression (although some tariffs were imposed to protect from foreign trade and land prices did decrease for farmers). Because of the rapid increase and then decrease in economic growth, the United States realized that anything drastic would challenge stability. Therefore, although hurried growth was tempting, it was concluded that it would be best to have economic expansion in moderation.