WorksheetsPanic of 1837
Total questions: 6
Worksheet time: 3mins
Why did President believe the 2nd National Bank was "useless?"
It was too fancy.
It favored the common man.
It was too large.
It favored wealthy families.
What did President Jackson do, when he was presented a bill to keep the National Bank alive?
He joyfully approved the bill.
He woefully vetoed the bill.
He gave the National Bank an extension of 6 months.
He did nothing.
Why was the National Bank penniless?
They spent it foolishly.
Critters ate all the money in the bank.
The National Bank took out a loan from Spanish banks.
President Jackson withdrew all the funds from it.
As a result of President Jackson taking all the federal funds from the National Bank,________________________________
Factories and companies had more money.
Factories and companies were left penniless.
All loans were forgiven.
Who was elected President and had to deal with the Panic of 1837?
President Van Buren
President James Monroe
President James Madison
President John Quincy Adams
What happened to the cost of living with the Panic of 1837?
Prices remained the same, and the Industrial Revolution progressed to the benefit of all.
Prices all went up, and masses could no longer afford food and shelter.
Prices went down, and everyone could afford food and shelter.
