The Panic of 1907 : heralding a new era of finance, capitalism, and democracy

Title:

Author:

Bruner, Robert F., 1949- author.

ISBN:

9781394180288

9781394180295

9781394320554

Edition:

Second edition.

Physical Description:

1 online resource (xix, 411 pages) : illustrations (some color), color map

Contents:

Introduction -- A buoyant decade, a fragile system, and some leaders at its apex -- A shock to the system -- The "silent" crash -- Credit crunch -- Copper king -- The corner and the squeeze -- Falling dominoes -- Clearing house -- Knickerbocker -- A vote of no confidence -- A classic run -- Such assistance as may be necessary -- Trust Company of America -- Crisis on the Exchange -- A city in trouble -- Modern Medici -- Instant and far-reaching relief -- Turning the corner -- Ripple effects -- Reckoning and a split -- Money trust -- A central bank -- The changing order -- Reflections and lessons -- Technical appendix : analysis of trust company diversity and deposit runs.

Abstract:

"The "Panic of 1907," as it was called, is considered the third worst stock market crash in history. Historians say it lasted from January 19, 1906, through November 15, 1907. The market crash was primarily caused by a credit crunch in New York that slowly spread across the country. To try to offset the decline, the U.S. Treasury department bought $35 million worth of government bonds. The Panic of 1907 aims to discuss the drivers of this crash and the major players involved, including F. Augustus Heinze and his bank, Knickerbocker Trust, as well as what lessons we have learned and can continue to learn from the panic"-- Provided by publisher.

Local Note:

John Wiley and Sons

Subject Term:

Depressions -- 1907.

Financial crises -- United States -- History -- 20th century.

Stock exchanges -- United States -- History -- 20th century.

Geographic Term:

Genre: