Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
US Coins Forum
>
Hard Times 1837 Maycock
>
Reply to Thread
Message:
<p>[QUOTE="johnmilton, post: 17850633, member: 101855"]From what I've read, the bad stuff didn't happen until Jackson's successor, Martin Van Buren, took office on March 4, 1837. It was known as the "Panic of 1837." As was repeated in 1929, the sins of the previous president were visited upon the next one who got the blame. </p><p><br /></p><p>Of course neither Van Buren nor Hoover came up with the right ideas or public demeanor to fix the problem. So they were bounced out of office in the next presidential election. </p><p><br /></p><p>One of the problems that Jackson created was his demand that government sales of land had to be made in gold and silver. That caused a flow of those metals from the East to West which caused a liquidity crisis. </p><p><br /></p><p>Jackson was fool to veto the Bank of the United States renewal bill. But he hated banks and paper money and believed in hard money so it was consistent with his philosophy. The bank needed reforms, no doubt, but turning over monetary to policy to the poorly run and considerably corrupt state banks was a huge mistake.[/QUOTE]</p><p><br /></p>
[QUOTE="johnmilton, post: 17850633, member: 101855"]From what I've read, the bad stuff didn't happen until Jackson's successor, Martin Van Buren, took office on March 4, 1837. It was known as the "Panic of 1837." As was repeated in 1929, the sins of the previous president were visited upon the next one who got the blame. Of course neither Van Buren nor Hoover came up with the right ideas or public demeanor to fix the problem. So they were bounced out of office in the next presidential election. One of the problems that Jackson created was his demand that government sales of land had to be made in gold and silver. That caused a flow of those metals from the East to West which caused a liquidity crisis. Jackson was fool to veto the Bank of the United States renewal bill. But he hated banks and paper money and believed in hard money so it was consistent with his philosophy. The bank needed reforms, no doubt, but turning over monetary to policy to the poorly run and considerably corrupt state banks was a huge mistake.[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
US Coins Forum
>
Hard Times 1837 Maycock
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...