What action exacerbated the Panic of 1819, sending the national economy into a widespread depression that affected all Americans?
A) hyperinflation in the value of cotton
B) a hike in European demand for food because of a ruinous European drought
C) a major tax increase in import duties charged on goods from Europe
D) the Bank of the United States and state banks limited credit and called in loans to try to protect themselves
ANSWER
Answer: D
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