Page "Martin Van Buren" Paragraph 30

Martin Van Buren announced his intention " to follow in the footsteps of his illustrious predecessor ", and retained all but one of Jackson's cabinet.

Van Buren had few economic tools to deal with the Panic of 1837.

The Panic was followed by a five-year depression, with the failure of banks and then-record-high unemployment levels.

It was one of the worst economic crises in the nation's history.

As a result Van Buren became very unpopular.