Panic of 1837
During Bagby's administration, the country was plagued by economic depression as a result of the Panic of 1837. Bagby introduced measures to assist the state banks but the state legislature rejected most measures. All the state banks were closed by Bagby's successor, Governor Benjamin Fitzpatrick.
Read more about this topic: Arthur P. Bagby
Famous quotes containing the word panic:
“Panic and emptiness! Panic and emptiness!”
—E.M. (Edward Morgan)