Sep

28

Great American Panics

September 28, 2023 |

great American panics 1812 to date:

1. Panic of 1819 - slowed expansion after the war of 1812.

2. Panic of 1837 - troubles of US banks and pres. Jackson's hostility, wide speculation in land.

3. Panic of 1857 - far worse than 1837, over-extension of railway building, failure of ohio life, banks everywhere suspended payments.

4. march 1861 - war crisis.

5. Gold panic of Sept 1969 - Black Friday stock exchange forced to close.

6. Panic of 1873 - failure of numerous brokerage firms, crowd of sightseers besieged wall street, stock exchange closed for 10 days. on sep 19 the stock exchange members suspended payment. union trust company forced to close.

7. Panic of 1890 - failure of baring brothers.

8. Panic of 1893 - 15,000 bankruptcies across the country.

9. Panic of 1907 - overnite call loans at 100%, stock market declined by 50%. boy wonder begged not to short any more.

PANIC continued:

i defined as the first time a 10% decline occurred. one striking result is that the panics after 1900 were much more bullish the those before 1900.

10-10-2008
12-24-2008
4-19-2020
2-23-2022
5-17-2022
6-14-2022
9-22-2022
10-6-2022

And from Education of a Speculator, page 42 and page 43, listing data on panics from 1890 to 1990.

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