From Ohio History Central
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The Panic of 1819 and the accompanying Banking Crisis of 1819 were economic crises in the United States of America principally caused by the end of years of warfare between France and Great Britain.
The Panic of 1819 and the Banking Crisis left many Ohioans destitute. Thousands of people lost their land due to their inability to pay off their mortgages. United States factory owners also had a difficult time competing with earlier-established factories in Europe. Many American people could not afford the factories' goods due to the lack of money in circulation. The United States did not fully recover from the Banking Crisis and the Panic of 1819 until the mid 1820s. These economic problems contributed immensely to the rise of Andrew Jackson. Many Americans viewed Jackson as one of them. He argued against the Bank of the United States, a message many Americans and Ohioans wanted to hear.