During the 1830s, thousands of villages were laid out by real estate speculators. Following the dissolution of the Second Bank of the United States in 1832, a glut of new banks and investment companies emerged that were more than willing to finance such enterprises. The panic of 1837, and a five year recession that followed, resulted in the failure of many of these communities. While Griffithsburg survived, growth of the village following the 1830s was limited in part due to its inaccessible location. | Source: Courtesy of Chagrin Falls Historical SocietyDownload Original File
