The Stress of 1819: The Initial Excellent Melancholy (Studies in Constitutional Democracy)

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The Stress of 1819 tells the tale of the initial nationwide financial collapse to strike the United States. A lot far more than a banking crisis or real estate bubble, the Stress was the fruits of an economic wave that rolled by the United States, forming ahead of the War of 1812, cresting with the land and cotton boom of 1818, and crashing just as the country confronted the disaster about slavery in Missouri. The Stress introduced People to the new phenomenon of growth and bust, modified the country’s attitudes towards wealth and poverty, spurred the political motion that became Jacksonian Democracy, and served generate the sectional divide that would lead to the Civil War. Despite the fact that it stands as just one of the turning details of American background, few Individuals nowadays have listened to of the Stress of 1819, nevertheless we carry on to disregard its lessons—and repeat its mistakes.