1833, the federal government began to distribute its deposits to 22 state banks. By the
close of the year, the government deposits had been largely removerd. In July 1836 Jakson had the Treasury Department issue the Specie Circular, which directed land offices to accept only specie in payment for western lands. This effectively shut out actual settlers, who could not get together enough gold or silver for their purchases. President Andrew Jackson’s economic policies often are blamed for creating the conditions that caused the Panic of 1837. In 1829, Jackson, who mistrusted the Natinal bank and considered it unconstitutional, refused to renew the bank’s charter. He also withdrew all federal funds, depositing them instead in state and private banks. The 2nd Great Awakening was a protestant revival movenment during the early 19th century in the United States. The movement began around 1790, gained momentum by 1800, and after 1820 membership rose rapidly among Baptist and Methodist congregations whose preachers led