What triggered the Panic of 1837?

Question

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Jackson's war on the national bank played a significant role in triggering the Panic of 1837. In 1836, he issued the Specie Circular, requiring payment for government lands to be made only in gold or silver, which caused a drain on the country's limited supply of specie and led to the collapse of numerous state banks. Additionally, Jackson had vetoed the re-chartering of the Bank of the United States, which had been serving as a stabilizing force in the economy. The loss of the bank's support contributed to the Panic of 1837.

What Triggered the Panic of 1837