~Panic+of+1797~

=The Panic of 1797 was a depression that began in the Bank of England. Britain’s economy was hurt, due to the fact that Britain was fighting France in the Revolutionary Wars. Britain was tied into America enough that when the bank deflated, commerical and real estate markets throughout the United States was disrupted, and even the Caribbean was affected. The depression continued into 1800, where many American debtors were imprisoned, resulting in the United States Congress passing the Bankruptcy Act of 1800.=