Panic of 1884

Panic of 1884

The Panic of 1884 was a short-lived small economic downturn. Gold reserves of Europe were depleted and the New York City national banks, with tacit approval of the U.S.Treasury Department halted investments in the rest of the United States and called in outstanding loans. A larger crisis was averted when New York Clearing House bailed out banks in risk of failure. Nevertheless, the investment firm Grant & Ward, Marine Bank of New York, and Penn Bank of Pittsburgh along with more than 10,000 small firms failed.

ee also

*Great Depression


*cite journal |last=Fels |first=Rendigs |authorlink= |coauthors= |year=1952 |month= |title=The American Business Cycle of 1879-85 |journal=Journal of Political Economy |volume=60 |issue=1 |pages=60–75 |doi=10.1086/257151 |url= |accessdate= |quote=
*cite book |title=Panic on Wall Street: A History of America's Financial Disasters |last=Sobel |first=Robert |authorlink=Robert Sobel |coauthors= |year=1968 |publisher=Macmillan |location=New York |isbn= |pages=Chapter 6
*cite book |title=The Coming Battle |last=Walbert |first=Martin W. |authorlink= |coauthors= |year=1899 |publisher=W. B. Conkey |location=Chicago |isbn= |pages=245 |chapter=National banks secure a continuation of their existence |chapterurl=

Wikimedia Foundation. 2010.

Look at other dictionaries:

  • Panic of 1907 — A swarm gathers on Wall Street during the bank panic in October 1907. Federal Hall, with its statue of George Washington, is seen on the right. The Panic of 1907, also known as the 1907 Bankers Panic, was a financial crisis that occurred in the… …   Wikipedia

  • Panic of 1837 — Whig cartoon showing the effects of unemployment An 18 …   Wikipedia

  • Panic of 1857 — Bank run on the Seamen s Savings Bank during the panic of 1857 The Panic of 1857 was a financial panic in the United States caused by the declining international economy and over expansion of the domestic economy. Indeed, because of the… …   Wikipedia

  • Panic of 1819 — For the 1962 economic history book by Murray Rothbard, see The Panic of 1819. The Panic of 1819 was the first major financial crisis in the United States,[1] which occurred during the end of the Era of Good Feelings. The new nation faced a… …   Wikipedia

  • Panic of 1893 — Estimates of Unemployment during the 1890s (Source: Romer, 1984) Year Lebergott Romer 1890 4.0 4.0 1891 5.4 4.8 1892 3.0 3.7 1893 11.7 8.1 1894 18.4 12.3 1895 13.7 11.1 1896 …   Wikipedia

  • Panic of 1873 — A bank run on the Fourth National Bank, No. 20 Nassau Street, New York City, 1873. From Frank Leslie s Illustrated Newspaper, October 4, 1873. The Panic of 1873 triggered a severe international economic depression in both Europe and the United… …   Wikipedia

  • Panic of 1847 — The Panic of 1847 was started as a collapse of British financial markets associated with the end of the 1840s railway industry boom. As a means of stabilizing the British economy the ministry of Robert Peel passed the Bank Charter Act of 1844.[1] …   Wikipedia

  • United States House of Representatives elections, 1884 — The U.S. House election, 1884 was an election for the United States House of Representatives in 1884 which coincided with the election of President Grover Cleveland. In spite of Cleveland s victory, the opposition Republican Party gained back… …   Wikipedia

  • Franklin B. Gowen — Infobox Person name = Franklin Benjamin Gowen caption = birth date = birth date|1836|2|9|mf=y birth place = Philadelphia, Pennsylvania death date = death date and age|1889|12|13|1836|2|9|mf=y death place = Washington, D.C.Franklin Benjamin Gowen… …   Wikipedia

  • Financial crisis — For the 2008–2010 crisis, see Subprime mortgage crisis , Late 2000s financial crisis and Late 2000s recession. Economics …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”