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Commercial
September 8, 1891
The Sedalia Weekly Bazoo
Sedalia, Pettis County, Missouri
What is this article about?
Historical summary of 18 major financial crises and failures from 1763 to 1884 across Europe, India, and the US, including bank suspensions, company collapses, and total losses exceeding hundreds of millions in pounds.
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SOME BIG FAILURES
Reported During the Past Twenty-five Years.
There have been eighteen great financial crises during the last century and a quarter, viz.: In 1763, at Amsterdam, originating with the house of De Neufville, and involving 77 failures. The failures in Holland in 1776 exceeded £10,000,000. In 1799 in Hamburg there were 82 failures, involving £2,000,000. There was a panic in Liverpool in the same year, which was, however, somewhat mitigated by Parliament lending £500,000 in exchequer bills on goods. In 1814 240 banks suspended payment in England. In 1825, at Manchester, failures occurred to the amount of £20,000,000. The Calcutta failure of 1833 involved £15,000,000. The "wildcat" prices in the States in 1837 caused all their banks to close. In 1859 the Bank of England was saved by the Bank of France. A panic in France during the same year caused 93 companies to fail for the sum of £6,000,000. In 1844 a crisis in England brought about the reformation of the Bank of England. The English failures of 1847 involved £20,000,000. During the great panic of 1857 in the States 7,200 failed for £12,000,000. The Overend, Gurney & Co. failure nearly a quarter of a century ago involved failures costing upward of £100,000,000. "Black Friday" in Wall street was on September 24, 1869. The shoe and leather trade crisis in Boston, United States of America, in 1873 caused losses amounting to over £2,000,000. The Grant & Ward failure in New York City in 1884 involved many financial and business houses and a loss of over £5,000,000.-Financial News.
Reported During the Past Twenty-five Years.
There have been eighteen great financial crises during the last century and a quarter, viz.: In 1763, at Amsterdam, originating with the house of De Neufville, and involving 77 failures. The failures in Holland in 1776 exceeded £10,000,000. In 1799 in Hamburg there were 82 failures, involving £2,000,000. There was a panic in Liverpool in the same year, which was, however, somewhat mitigated by Parliament lending £500,000 in exchequer bills on goods. In 1814 240 banks suspended payment in England. In 1825, at Manchester, failures occurred to the amount of £20,000,000. The Calcutta failure of 1833 involved £15,000,000. The "wildcat" prices in the States in 1837 caused all their banks to close. In 1859 the Bank of England was saved by the Bank of France. A panic in France during the same year caused 93 companies to fail for the sum of £6,000,000. In 1844 a crisis in England brought about the reformation of the Bank of England. The English failures of 1847 involved £20,000,000. During the great panic of 1857 in the States 7,200 failed for £12,000,000. The Overend, Gurney & Co. failure nearly a quarter of a century ago involved failures costing upward of £100,000,000. "Black Friday" in Wall street was on September 24, 1869. The shoe and leather trade crisis in Boston, United States of America, in 1873 caused losses amounting to over £2,000,000. The Grant & Ward failure in New York City in 1884 involved many financial and business houses and a loss of over £5,000,000.-Financial News.
What sub-type of article is it?
Economic
Banking
What keywords are associated?
Financial Crises
Bank Failures
Economic Panics
Historical Failures
Commercial Losses
What entities or persons were involved?
De Neufville
Bank Of England
Bank Of France
Overend Gurney & Co.
Grant & Ward
Commercial Details
Event Date
1763 To 1884
Key Figures
De Neufville
Bank Of England
Bank Of France
Overend Gurney & Co.
Grant & Ward
Notable Details
- 18 great financial crises during the last century and a quarter
- 1763 amsterdam: 77 failures
- 1776 holland: exceeded £10,000,000
- 1799 hamburg: 82 failures involving £2,000,000
- 1799 liverpool panic mitigated by parliament lending £500,000
- 1814 england: 240 banks suspended payment
- 1825 manchester: £20,000,000
- 1833 calcutta: £15,000,000
- 1837 states: all banks closed due to wildcat prices
- 1859 bank of england saved by bank of france
- 1859 france: 93 companies failed for £6,000,000
- 1844 england crisis led to bank of england reformation
- 1847 english failures: £20,000,000
- 1857 states: 7,200 failed for £12,000,000
- 1866 overend gurney & co. failure: over £100,000,000
- 1869 black friday wall street
- 1873 boston shoe and leather trade crisis: over £2,000,000
- 1884 grant & ward new york: over £5,000,000