What was the economic crisis that led to the defeat of the President who had been Governor of New York at the beginning of the 52nd New York State Legislature?
52nd New York State Legislature: The 52nd New York State Legislature, consisting of the New York State Senate and the New York State Assembly, met from January 6 to May 5, 1829, during the short tenure of Martin Van Buren as Governor of New York, and—after Van Buren's resignation—during the first year of Enos T. Throop's governorship, in Albany. Martin Van Buren: Martin Van Buren (Dutch: "Maarten van Buren" ; December 5, 1782 – July 24, 1862) was the eighth President of the United States (1837–41). Martin Van Buren:  Shortly after taking office, the Panic of 1837 struck the nation, and his inability to deal effectively with the economic crisis, combined with the growing political strength of the opposition Whig Party, led to his defeat.
Panic of 1837