Home Economics Economic Roundtable Second Bank of the United States

Second Bank of the United States

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Second Bank of the United States

Second Bank of the United States

The Second Bank of the United States caused the Panic of 1837 through a deliberate, institution-saving policy reversal that crushed the economy it had previously inflated.Nicholas Biddle ran the Second Bank through the early 1830s and expanded credit aggressively. Member banks multiplied loans on to...

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