The bank of the Us soon recovered its sound monetary footing according to the management away from Nicholas Biddle
The guy titled when you look at the loans, therefore it is much harder for banking institutions and you may organizations so you’re able to borrow cash
The economic panic out-of 1819 harm many farmers, writers and singers, or other small businesses, and this powered anger contrary to the lender and its particular paper money when an excellent Congressional query indicated that the institution, in fact, had acted irresponsibly inside crisis. Brand new Stress considering a critical flipping area for Andrew Jackson and you may most other “hard money” advocates, whom insisted one papers currency you are going to never replace currency backed by gold and silver.