Question

What was the economic crisis 1846-7?

Answer 1

The economic crisis in 1846-7, also known as the Panic of 1847, was a major downturn in the United States caused by an overextension of credit, risky loans, and a decline in grain exports.

Step-by-step explanation:

The economic crisis in 1846-7 was a major economic downturn that occurred in the United States. It was also known as the Panic of 1847. This crisis was primarily a result of overextension of credit, risky loans by banks, and the decline in grain exports to Europe.