Panic of 1837 By BlakeG2 Jul 10, 1832 Jackson vetoes the renewal of the 2nd B.U.S. Sep 1, 1833 Jackson orders the pulling of government funds from the 2nd B.U.S. to be deposited in state "pet banks" Sep 7, 1833 NIcholas Biddle demanded that old loans be repaid and no new loans Mar 28, 1834 Jackson censured by the Senate for putting federal funds in state banks Jul 11, 1836 Must use gold and silver to buy land Aug 15, 1836 State banks begin to accept payment only in specie Mar 4, 1837 Martin Van Buren takes office May 10, 1837 Banks run out of gold and silver and the govrnment can not get any money Jan 1, 1841 2nd bank of the United States officially closes and goes out of business(like New York) Mar 4, 1841 William H. Harrison and the Whig party take control
