~Glossary~


 * 1) ==== Speculative Fever: a term used in the housing market which represents the frequent action of buying and selling housing properties. Basically, the buyer and seller has no intention of ever occupying the hosue, only purchasing it for the sole reason of selling it off for a profit. ====
 * 2) ==== Inflation: a persistent, substantial rise in the general level of prices related to an increase in the volume of money and resulting in the loss of value of currency. ====
 * 3) ==== Second Bank of the United States: chartered by many of the same congressmen who in 1811 had refused to renew the charter of the original Bank of the United States. The predominant reason that the Second Bank of the United States was chartered was that in the War of 1812, the U.S. experienced severe inflation and had difficulty in financing military operations. ====
 * 4) ==== Specie: coin money. ====
 * 5) ==== Deflation: a fall in the general price level or a contraction of credit and available money. ====
 * 6) ==== Bankruptcy Act of 1800: allowed only the involuntary bankruptcy of businessmen and traders; repealed in 1803. ====
 * 7) ==== Coxey's Army: a protest march by unemployed workers led by the populist Jacob Coxey in 1864. ====
 * 8) ==== Call Money: money lent by banks, as to brokerage firms, on which repayment may be demanded at any time. ====
 * 9) ==== Embargo Act of 1807: laws restricting American ships from engaging in foreign trade 1807 and 1812; led to the War of 1812. ====
 * 10) ==== Land Speculation: financial action that does not promise safety of the initial investment along with the return on the principal sum. ====
 * 11) ==== Land Act of 1820: eliminated the purchase of public land in the United States on credit. It also reduced the minimum size of the tract from 160 to 80 acres. ====
 * 12) ==== Relief Act of 1821: permitted Ohioans to return land that they could not pay for back to the government, granting a credit towards their debt for the returned land. ====
 * 13) ==== Andrew Jackson: opposed the Bank of the United States; set in motion the events that caused the boom and bust in the economy he so feared. ====
 * 14) ==== Martin Van Buren: went into presidency after Andrew Jackson, nicknamed "Van Ruin"; presided over bank failures, bankruptcies, and massive unemployment during his time in the White House. ====
 * 15) ==== Pet Banks: Andrew Jackson deposited funds from the Bank of the United States in state banks and privately-owned financial institutions. ====
 * 16) ==== Specie Circular: required payment for government land to be in gold and silver. ====
 * 17) ==== Whigs: party established when Martin Van Buren's presidency proved uneffective in the economy. ====
 * 18) ==== GNP: the total monetary value of all final goods and services produced in a country during one year. ====
 * 19) ==== "Flush Times": speculation in western lands was feverish; Alabama and Mississippi were known as the "Flush Times" in the mid-1830's. ====
 * 20) ==== Chamber of Commerce: local organization of businesses whose goal is to further the interests of businesses. ====