Title: Panic of 1819 for kids ***
Headings: Panic of 1819
Panic of 1819
Content: The government introduced an economic plan aimed at improving the economy of the US. The nation's economic plan was based on a new national bank to provide credit to Americans, taxing foreign goods to raise income and creating a subsidized transportation infrastructure of new roads and canals to enable Westward Expansion to new lands with more settlers becoming farmers. The plan was initiated by Henry Clay and was called the 'American System'. The establishment of the Second Bank of the United States was part of the economic plan to reach these goals. President James Madison, with the approval of Congress, granted a charter to the Second Bank of the United States in 1816 which was a privately held banking corporation. 1801-1828: Evolution Era
US American History

What were the Causes of the Panic of 1819? There were many causes of the Panic of 1819 including those are detailed in the following fact sheet. What were the Causes of the Panic of 1819? Panic of 1819 Causes: