Question

The panic of 1819:
a. resulted partly from an upsurge in european demand for american farm products that the united states was unprepared to meet.
b. led to impossibly high prices for western lands.
c. enhanced trust in banks because they did such a good job of weathering the economic storm.
d. prompted some states to suspend debt collections, which helped debtors but hurt creditors.
e. inspired john marshall's decision against the banking power in gibbons v. ogden.

Answer 1

The Panic of 1819 was the result of over-speculation on newly available western lands, which led to high prices on land and banks foreclosing on western lands. It caused an international financial crisis.