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Economic History and Policy

Panic of 1837 Practice Questions

20 free Panic of 1837 practice questions for the US History, each with the correct answer and a detailed explanation. Open any question below, or take the full set as an interactive quiz.

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All Panic of 1837 questions

20 questions
  1. Q1. The Specie Circular, issued by the Jackson administration in 1836, required that public lands be purchased using which of the following?
  2. Q2. Which of the following was a primary cause of the Panic of 1837?
  3. Q3. President Martin Van Buren’s response to the Panic of 1837 was largely characterized by which philosophy?
  4. Q4. How did the 'Distribution Act' of 1836 contribute to the financial instability leading up to the Panic of 1837?
  5. Q5. Which international factor significantly worsened the American economic crisis in 1837?
  6. Q6. What was the purpose of the Independent Treasury (or 'Sub-Treasury') system proposed by Martin Van Buren?
  7. Q7. The term 'Pet Banks' refers to which of the following during the 1830s?
  8. Q8. What effect did the Panic of 1837 have on the American labor movement?
  9. Q9. Whig politicians used the economic distress of the Panic of 1837 to argue for which policy?
  10. Q10. Which statement best describes the impact of the Panic of 1837 on state governments?
  11. Q11. The Specie Circular was most unpopular among which of the following groups?
  12. Q12. In the 'Bank War,' Andrew Jackson's primary reason for opposing the Second Bank of the United States was his belief that it was:
  13. Q13. The economic depression following the Panic of 1837 lasted approximately how long?
  14. Q14. Why did the 'Specie Circular' lead to a contraction of credit in the U.S. economy?
  15. Q15. Which of the following was a political consequence of the Panic of 1837?
  16. Q16. The Locofocos were a faction within the Democratic Party during this era who were known for their:
  17. Q17. Which document is most associated with the start of the financial crisis in May 1837?
  18. Q18. The 'American System' advocated by Henry Clay was designed to prevent crises like the Panic of 1837 by:
  19. Q19. During the mid-1830s, the price of which commodity skyrocketed and then crashed, contributing to the panic?
  20. Q20. What happened to the Independent Treasury Act after the Whigs took power in 1841?