Panic of 1819: The First Great Depression

The Panic of 1819 was the first nation-wide economic collapse to strike the United States, resulting from an economic wave that began before the War of 1812 and crashed just as the country was confronted with the crisis over slavery in Missouri. It introduced Americans to the new phenomenon of boom and bust, changed attitudes towards wealth and poverty, spurred the political movement that became Jacksonian Democracy, and helped create the sectional divide that would lead to the Civil War.

Format: Hardback
Length: 444 pages
Publication date: 30 April 2019
Publisher: University of Missouri Press

The Panic of 1819, a pivotal moment in American history, marked the first nationwide economic collapse to strike the United States. Far from being merely a banking panic or a real estate bubble, it was the culmination of an economic wave that swept across the nation, beginning before the War of 1812 and reaching its peak with the land and cotton boom of 1818. However, just as the country grappled with the issue of slavery in Missouri, the economy crashed, ushering in a new era of boom and bust. This crisis introduced Americans to the concept of economic cycles, profoundly altering their attitudes towards wealth and poverty. It also sparked the political movement that gave rise to Jacksonian Democracy and contributed to the growing sectional divide that ultimately led to the Civil War. Despite its significance, the Panic of 1819 is relatively unknown to many Americans today, despite the ongoing repetition of its mistakes. This underscores the importance of understanding our past to avoid repeating the same errors in the future.

Weight: 822g
Dimension: 160 x 235 x 43 (mm)
ISBN-13: 9780826221834