1837
Panic
A panic year. Specie payments were suspended in many places. The causes were several, not one slogan.
In 1837 specie payments were suspended in many places. The scramble followed, by months, the removal of federal deposits and the Specie Circular. It did not follow by decades, and it was not a single cause.
International credit, cotton, land sales, and the bank scramble all sit in the record. This page does not choose one of them. It is not the Panic of 1907.