The Full Wiki

More info on Panic of 1890

Panic of 1890: Wikis

Advertisements

Note: Many of our articles have direct quotes from sources you can cite, within the Wikipedia article! This article doesn't yet, but we're working on it! See more info or our list of citable articles.

Encyclopedia

From Wikipedia, the free encyclopedia

The Panic of 1890 was an acute depression that was less serious than other panics of the era precipitated by the near insolvency of the Baring Brothers Bank in London due mainly to poor investments in Argentina. The Bank of England bailed out the Baring Brothers which prevented a larger depression. Nathan Rothschild remarked that if this had not happened, perhaps the entire private banking system of London would have collapsed which would have made for a tremendous economic catastrophe. The panic was associated with call money reaching an astonishing 45 percent and a slump in the commodities market the world over.

See also

References

Advertisements

Advertisements






Got something to say? Make a comment.
Your name
Your email address
Message