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|Collection Reference Number
|From Archive Folder
|Documents Relating to 1834
|Andrew Jackson to Moses Dawson concerning the economic panic of 1834
|4 March 1834
|Jackson, Andrew (1767-1845)
|Writes as President concerning the subsiding economic panic of 1834 caused by the calling in of loans by the second Bank of the United States. Informs that the panic will leave the country in a better condition "... by giving us, in time, a metalic currency to meet the wants of the labouring class of the community by putting down the circulation of notes under five dollars ... " Jackson made a decision to prohibit all bank notes worth less than five dollars. Ends by stating, "The tyrant [the Second Bank of the United States] is chained & must expire at the end of its charter." Marked "private & for your own eye."
|President Bank of the US Banking Finance Economics Coins and Currency Government and Civics
|Jackson, Andrew (1767-1845) Dawson, Moses (1768-1844)
|Government & Politics; The Presidency; Banking & Economics
|The Gilder Lehrman Collection, 1493-1859
|Dawson was editor of the Cincinnati Advertiser.
|The Gilder Lehrman Institute of American History
|Settlement, Commerce, Revolution and Reform: 1493-1859