One of the major causes of the panic of 1819 was

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The overspeculation in frontier lands, particularly in the western states, was a major cause of the panic of 1819. The demand for land was high, and many investors purchased large amounts of land on credit. When the price of agricultural goods fell, many of these investors could not pay back their loans, leading to widespread foreclosures and bankruptcies. This created a ripple effect throughout the economy, causing a financial crisis.

One of the Major Causes of the Panic of 1819