The Panic of 1837 began the worst American depression to that point.

Name: The Panic of 1837 began the worst American depression to that point.
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The Panic of 1837 did indeed trigger what was then the worst American economic depression. It lasted until 1843 and was caused by a number of factors including the closure of the Bank of the United States, overspeculation in land and railroads, and a decrease in British investment.

The Panic of 1837 Began the Worst American Depression to That