Martin Van Buren's presidency (1837-1841) was scarred by the economic turmoil of the Panic of 1837, which led to a severe depression marked by high unemployment, bank failures, and widespread poverty. His administration faced criticism for its handling of the crisis, as Van Buren adhered to a hands-off economic policy, believing that the market would self-correct. Additionally, his attempts to address the issues through measures like the Independent Treasury System were met with opposition, further complicating his presidency. This economic distress ultimately contributed to his defeat in the 1840 election.
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