Twice before 1860 we had major depressions in this country. Truth be known they were the first of many where as most believe that the crash of 29 was the only true depression.
The Banking panics of 1819, which lasted 3 years, and of 1837, which lasted 5 years, were the first of many and if you look closely you will find that the Federal Government acted then as it is doing now. (Nothing is new under the Sun, so they say)!
http://en.wikipedia.org/wiki/Panic_of_1819http://en.wikipedia.org/wiki/Panic_of_1837Tariffs played a major part in trying to change/stop this problem and SC's run at standing alone against the Government was paramount in showing the way any new President might handle this problem. Andy Jackson ask congress and was given the power to move federal troops into SC to restore federal laws in SC. Before that could happen cooler heads compromised a plan thus SC went no futher with its plan to fight those laws. Jackson was adamont that SC would not be allowed to go its own way or not respect those Federal laws it didn't like just because.
