Publisher's Synopsis
Excerpt from The Economic Consequences of the Bank War: An Analysis of the Inflation of the 1830's
The 1830's represent a fascinating period in American history. They witnessed the emergence of the complex phenomenon known as Jacksonian democracy and the rise and collapse of one of the fastest inflationary movements of the nineteenth century. These two events normally are thought to have been causally connected, since one of the defining acts of Jacksonsonian democracy was the veto and destruction of the Second Bank of the United States the celebrated Bank War° The demise of this bank is thought to have removed the only effective constraint on the state banks, leading to expansion and inflation.
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