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Question
Which of the following was a factor in creating the Panic of 1837?A) the lowering of interest rates and loosening of credit by the Bank of England
B) a drop-off in the price and exportation of American cotton
C) the lack of availability of credit for buying western lands in the early 1830s
D) the payment of debts by many state governments that had borrowed lavishly in the 1820s and 1830s
Answer
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