Question

Jackson's Pet Banks printed money without gold backing which led to the ________

Answer 1

Andrew Jackson's pet banks printing money without gold backing led to the Panic of 1837.

Step-by-step explanation:

During Andrew Jackson's presidency, he proposed withdrawing government deposits from the Second Bank of the United States and depositing them in state banks, which became known as "pet banks."

These pet banks printed money without gold backing, which led to the devaluation of paper currency and an economic crisis known as the Panic of 1837.