Democrats and Whigs,1837-1844 民主党与辉格党（1837~1844年）

　　314. The Panic of 1837. 314．1837年的恐慌

　　The Panic was due directly to Jackson's interference with the banks, to his Specie Circular, and to the distribution of the surplus. 这场恐慌与杰克森干预银行、《金属通货公告》及散去盈余等直接相关。

　　It happened in this way. 这场恐慌是这样出现的：

　　When the Specie Circular was issued, people who held paper money at once went to the banks to get gold and silver in exchange for it to pay for the lands bought of the government. 当发布《金属通货公告》时，持有纸币的人立刻去银行换取黄金和白银以从政府手中购买土地，

　　The government on its part drew out money from the banks to pay the states their share of the surplus. 政府则从政府的角度出发从银行提取钱付给各个州划分盈余，

　　The banks were obliged to sell their property and to demand payment of money due them. 银行不得不出卖财产并要求借贷者还钱，

　　People who owed money to the banks were obliged to sell their property to pay the banks. 那些欠银行钱的人被迫卖掉自己的财产还给银行，

　　So every one wanted to sell, and few wanted to buy. 因此，所有的人都想卖掉自己的财产，但很少有人想购买。

　　Prices of everything went down with a rush. 物价迅速下跌，

　　People felt so poor that they would not even buy new clothes. 人们感到自己非常贫穷，甚至买不起新衣服。

　　The mills and mines were closed, and the banks suspended payments. 作坊和煤矿被关闭，银行也停止支取，

　　Thousands of working men and women were thrown out of work. 数以千计的人失业，

　　They could not even buy food for themselves or their families. 他们甚至没有钱为自己和家人购买食品，

　　Terrible bread riots took place. 可怕的骚乱发生了。

　　After a time people began to pluck up their courage. 一段时间以后，人们才开始鼓起生活的勇气，

　　But it was a long time before "good times" came again. 但这距离"幸福时代"的再次到来还有很长一段时间。