Search results
Oct 9, 2008 · The Panic of 1907 was a six-week stretch of runs on banks in New York City and other American cities in October and early November of 1907. It was triggered by a failed speculation that...
The Panic of 1907 was a financial crisis set off by a series of bad banking decisions and a frenzy of withdrawals caused by public distrust of the banking system. J.P. Morgan and other wealthy Wall Street bankers lent their own funds to save the country from a severe financial crisis.
I n October 1907, the failed attempt to corner the market on the United Copper Company's stock led to a string of bank runs and a national panic. The failure of numerous banks and trusts, particularly the Knickerbocker Trust Company in New York, led to a crisis of faith in the banking system throughout the United States.
- www.encyclopedia.com
- › History
PANIC OF 1907. Economic prosperity during the first several years of the twentieth century led to expanded bank credit and rampant speculation in railroad consolidations, western mining ventures, and the coastal shipping industry.
Nov 19, 2012 · The Panic of 1907. This paper summarizes the academic literature on the Panic of 1907 in the United States. Despite over 100 years of separation, research by financial economic historians continues to uncover important data and underexploited connections between institutions to improve present day understanding of a watershed economic event ...
- link.springer.com
- › The New Palgrave Dictionary of Economics
Jan 1, 2018 · The Bank Panic of 1907 was the final banking crisis of the National Banking Era (1863–1913); it was significant in that it led to the Federal Reserve Act. The panic began when the spectacular attempt by F. Augustus Heinze to corner the stock of United Copper...
Dec 4, 2015 · A companion essay discusses the Panic of 1907, the shock that finally spurred financial and political leaders to consider reforming the monetary system and eventually establish the Federal Reserve. A cartoon of a giant figure named 'Panic' clearing garbage on Wall Street, 1873 (Library of Congress Prints and Photographs Division, LC-DIG-ds-04513 )
