Answer :
The economic panic of 1819 was caused by a combination of factors. First, demand for western lands plummeted, bankrupting many speculators. Second, European demand for American farm goods returned to pre-War of 1812 levels. This created a perfect storm of economic conditions that led to the panic.
The panic of 1819 was the first major economic crisis in the United States. It was caused by a combination of factors, both domestic and international. Domestically, the panic was caused by a sharp decrease in demand for western lands. This decrease in demand led to a decrease in prices for these lands, and many speculators who had invested heavily in them were left bankrupt.
Internationally, the panic was caused by a return to pre-War of 1812 levels of European demand for American farm goods. This decrease in demand led to a decrease in prices for these goods, and many farmers who had come to rely on the higher prices were left in financial difficulty. The combination of these two factors created a perfect storm of economic conditions that led to the panic of 1819.
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