BANKERS’ PANIC BEGAN ON THIS DAY IN 1907

1907_Panic

A large crowd gathers on Wall Street during the bank panic

The Panic of 1907 was a financial crisis that occurred when the New York Stock
Exchange fell close to 50% from its peak the previous year. This was during a
time of economic recession, resulting in numerous runs on banks and trust
companies. The 1907 panic eventually spread throughout the nation when
many state and local banks and businesses entered bankruptcy. The crisis
was triggered by the failed attempt in to corner the market on stock of the
United Copper Company and a loss of confidence among depositors.

bank panic

panic of 1907 book

posted by Bob Karm in ANNIVERSARY,Fincncial,HISTORY,Stock market and have No Comments

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