The Panic of 1837 __________.

Question

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The Panic of 1837 had a devastating impact on the National Trades Union, which had been formed just a few years earlier in 1834 to represent the interests of American workers. The economic downturn caused by the Panic led to widespread unemployment and hardship, with many workers losing their jobs and struggling to make ends meet. The labor movement as a whole did not benefit from the Panic, as the economic turmoil made it difficult for workers to organize and demand better wages and working conditions. While some foreign creditors, including French creditors, may have played a role in exacerbating the Panic, their actions were not the primary cause of the economic downturn.