Which factors indicate that there was an economic depression in the United States after the Revolutionary War?
1 Answer
There were none because there was none.
Explanation:
To be clear, America started in debt with little means of capitalizing the government. But most Americans of the day were either farmers or merchants, small businessmen.
The first depression was brief but happened in 1819 when the United States was still recovering from the ravages of the War of 1812 and becoming a part of the global economy of the time.
The driving force of the "Panic of 1819" was the American Banking system. American currency was entirely controlled by private bankers. They printed their own currency, set rates, and were not regulated by the Federal Government in any respect.
Then in 1819 the world's economy took a fall and American banks failed in droves. This caused a lack of confidence by American investors who held onto their money which in turn caused a sharp decline in the availability of jobs.
