what was the general condition of the american economy in 1836? what factors contributed to this? what was the most pressing problem that congress and the administration faced between 1835 and 1837, and how did they propose to solve it?

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26-10-2022
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what was the general condition of the american economy in 1836? what factors contributed to this? what was the most pressing problem that congress and the administration faced between 1835 and 1837, and how did they propose to solve it?

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connier0037 connier0037 · Answer 1 · 2022-10-26T16:51:23-04:00

Awnser:

The American economy was experiencing a boom. Canal and railroad builders were at a peak of activity. Prices were rising, money was plentiful, and credit was easy as banks increased their loans and notes with little regard to their reserves of cash. The land business was booming. The government was selling public land, which created a federal budget surplus and reduced the national debt. Congress passed a "distribution" act requiring Congress to pay its surplus funds to the states by issuing unsecured "loans" which the states in turn used for construction of roads, highways, canals, and railroads.