what where some economic issues during 1820-1860??”
1) Jackson’s opposition to national banking triggered business panics in the mid 1830’s where money was unavailable for industrial expansion in the East but excess money caused inflation and land speculation. This was coupled with crop failures and an imbalance between imports and exports and resulted in economic disaster spreading as far as England. As crops recovered and economic growth continued trust in the financial structure eventually rebounded so the situation normalized in the early 1840’s. In 1863 and 1864 a national bank code was drafted. 2) The Industrial Revolution resulted in rapid economic growth, much of it beneficial, but also much of it corrupt. A number of get-rich-quick schemes impoverished many investors in both the US and England. Increased regulation eventually solved the problems but not until much later. Overall, the benefits of the new inventions were great and lasting, including the development of the railroads and the beginnings of modern industry. 3) Cotton
