OLD-TIME PANICS.
The Panic of 1837.—How it was Brought About.—The State 175
Banks.—How they Expanded their Loans under Government
Patronage.—Speculation was Stimulated and Values
Became Inflated.—President Jackson’s “Specie
Circular” Precipitates the Panic.—Bank Contractions
and Consequent Failures.—Mixing up Business and
Politics.—A General Collapse, with Intense Suffering