Certain Victims of an International Contagion: The Panic of 1797 and the Hard Times of the Late 1790s in Baltimore

  title={Certain Victims of an International Contagion: The Panic of 1797 and the Hard Times of the Late 1790s in Baltimore},
  author={Richard S. Chew},
  journal={Journal of the Early Republic},
  pages={565 - 613}
In the late 1790s, three events–the Panic of 1797, the Quasi-War with France, and a yellow fever epidemic–coincided to end a decade-long export boom in the United States and usher in hard times for the republic. Focusing on Baltimore as a case study, the evidence reveals that the economic downturn was a turning point for the U.S. economy rather than a temporary setback; thereafter, the domestic economy eclipsed overseas trade as the primary engine of growth. The first event that led to the hard… Expand
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