North Carolina is in financial trouble. Many people do not like the paper money, called bank notes. Citizens demand that banks give them instead the gold or silver that the money represents. But there is not enough of the gold and silver to give everyone. Instead of spending their money, people hoard it. North Carolina slumps into an economic downturn, called a depression.
Exhibit & Section:
Node Order:
420
Event Date Field:
Friday, January 1, 1819