Poor farm conditions in Britain led up to this event, which included a 75 percent drop in the price of cotton.
One incident during this event saw New Yorkers break into stores to steal barrels of grain. That incident was called the "Flour Riot." Poor farm conditions in Britain led up to this event, which included a 75 percent drop in the price of cotton. It was instigated by an act issued by Levi Woodbury in an attempt to slow inflation and land speculation by requiring the purchase of land in gold or silver. The granting of surplus government funds to pet banks may have contributed to this event along with that act, the Specie Circular. For 10 points, name this financial crisis that occurred during the presidency of Martin van Buren.
One incident during this event saw New Yorkers break into stores to steal barrels of grain.
Panic of 1837