Major Events in martins presidency
- two slave ships named the comet and the encomium ran ashore on the british territory of the bahamas and caused the price of cotton to drop and end british loans to the united states.
- He was elected into the depression that andrew jackson left behind, he had to deal with the national debt. during his presidency the debt grew by 4,913,917.71 dollars, a 1458.31% increase.
- a Panic happend in New York 1837, when banks first suspend payments of coins. banks can no longer redeem currency notes in gold and silver.
- In response to the economic crisis, he called for a special session of Congress. he proposed a bank divorce policy and the establishment of an independent treasury.