How did the Panic of 1837 start?

Must be 5-7 sentences
I give Brainliest!

The panic of 1837 was partly caused by the economic policies of President Jackson, who created Specie Circular by executive order and refused to renew the charter of Second Bank of the United States.

The Panic of 1837 was partly caused by the economic policies of President Jackson, who created the Specie Circular by executive order and refused to renew the charter of Second Bank of the United States. Here is more information. It required payment for public lands be in gold and silver specie or certain sound money. Thus, much paper money was instantly devalued. This executive order contributed to the Panic of 1837.It would lead to an economic down fall known as the Panic of 1837. Hope this helps! Mark please!