Van Buren, Martin
Van Buren, Martin
8th president of the USA 1837–41, a Democrat, who had helped establish the Democratic Party. He was secretary of state 1829–31, minister to Britain 1831–33, vice-president 1833–37, and president during the Panic of 1837, the worst US economic crisis until that time, caused by land speculation in the West. Refusing to intervene, he advocated the establishment of an independent treasury, one not linked to the federal government, worsening the depression and losing the 1840 election.
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