The depression of 1937 was sometimes also referred to as “The Panic of 1837.” The true panic of this depression consisted of banks over- extending credit on insufficient collateral as well as a shortage of the nations currency. The shortage of currency failed to meet the demands of the country at a time when the nation was prospering, the railroad was laying tracks and extending outward, and canals were being built to make even more routes of …showed first 75 words of 978 total…

…showed last 75 words of 978 total…a situation involving an unstable currency and financial system resulting in a lack of confidence in both government and the banks. Bibliography WORKS CITED Bailey, Kennedy, Cohen. The American Pageant Volume I: To 1877. New York, Houghton, 1998. Current, Williams, Freidel. American History A Survey. New York, Knopf, 1971. PEI History Department. Panic of 1837. http://www.pei-intl.com/Research/PANICS/1837/1837.HTM Wentworth, John. The Panic of 1837. Sunday Lecture Society, 1876, http://www.adena.com/adena/usa/hs/hso1.htm