But, as it turned out, the mutualization model – used again in 1813 during the second war against the British – fueled a credit bubble, which collapsed in 1837 and thrust nine of the 29 US states and territories into bankruptcy.
Ce problème non résolu de la dette exacerbera plus tard les tensions autour de la question de l’esclavage, qui provoquera la guerre de Sécession en 1861.