The Panic of 1819 Turned into a Depression Because

The Panic of 1819 turned into a depression because

A) cotton and tobacco prices soared, decreasing the number of consumers.
B) international commerce slowed with the removal of tariffs.
C) people continued to put too much trust in banks throughout the episode.
D) businessmen, farmers, and speculators had recklessly borrowed money.
E) all banks refused to generate more loans or issue more paper money.