The act redirected federal surpluses to state governments and local banks, expanding credit and contributing to the speculative boom often cited as a factor leading to the Panic of 1837.
References / Sources
No source references have been added for this event yet.
Related Timeline Entries
August 8, 2026
•
Donald Trump
Legislation
Senators head for the exits without meeting Trump's demands for voting bill
Senators left negotiations without reaching an agreement on a voting bill demanded by Trump.
July 31, 2026
•
Donald Trump
Legislation
Trump makes new demands for Russia, Iran sanctions bill named for Graham
Trump outlined new demands for a sanctions bill targeting Iran and Russia.
July 30, 2026
•
Donald Trump
Legislation
Trump administration seeks additional funding for Freedom 250 events
The Trump administration is requesting more funding for events commemorating the Freedom 250 initiative.
July 12, 2026
•
Donald Trump
Legislation
Trump lets bipartisan housing bill become law without signing
Trump allowed a bipartisan housing bill to become law without his signature.