William Jones resigned and was replaced by (*) Langdon Cheves as head of the institution most responsible for this event, during which the value of cotton dropped 25% in a single day.
Murray Rothbard expanded his doctoral dissertation at Columbia into a book about the "Reactions and Policies" in response to this event. Future ambassador to Brazil Condy Raguet sent a questionnaire to every county in Pennsylvania to assess the severity of this event. Kentucky governor John Adair's response to this event precipitated the Old Court-New Court controversy. Many of those who abandoned their homes during this event left the initials "G.T.T.," or "Gone to Texas," on their properties. William Jones resigned and was replaced by (*) Langdon Cheves as head of the institution most responsible for this event, during which the value of cotton dropped 25% in a single day. This event, which brought the Era of Good Feelings to a screeching halt, was caused by a curtailment in loans by the Second Bank of the United States, forcing state-chartered banks to begin foreclosing on properties. For 10 points, name this first major peacetime economic crisis in the United States, which occurred in a namesake year during James Monroe's presidency.
Murray Rothbard expanded his doctoral dissertation at Columbia into a book about the "Reactions and Policies" in response to this event.
Panic of 1819