Panic Onset
- When
- January 1819
- Where
- United States
- Part of
- Panic of 1819 begins
News arrived in January 1819 that cotton value had broken, dropping 25% in a single day, and the ensuing panic drove the country into recession.
In January 1819, news arrived that the value of cotton had broken, dropping 25% in a single day. The ensuing panic drove the country into recession. The Panic of 1819 was the first widespread and durable financial crisis in the United States, and it heralded the nation's transition from its colonial commercial status with Europe toward an independent economy. The ensuing financial panic, in conjunction with a sudden recovery in European agricultural production in 1817, led to widespread bankruptcies and mass unemployment.
Sources
- Panic of 1819 Wikipedia, revision of 2026-07-01
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