The Panic of 1825 was a stock market crash that started in the Bank of England arising in part out of speculative investments in Latin America, including in the fabled imaginary country of Poyais. The crisis was felt most acutely in England where it precipitated the closing of six London banks including Henry Thornton's bank and sixty country banks in England, but was also manifest in the markets of Europe, Latin America, and the United States. An infusion of gold reserves from Banque de France would save the Bank of England from complete collapse.
In fiction
An historical novel by Stanley J. Weyman, Ovington's Bank, is centered on the Panic of 1825.
See also
References
- Bordo, Michael D. Commentary May/June 1998. St. Louis Federal Reserve Review.[1]
- Fetter, Frank W. A Historical Confusion in Bagehot's Lombard Street Economica, New Series, Vol. 34, No. 133 (Feb., 1967), pp. 80–83. [2]
- Haupert, Michael (1997). "Panic of 1825". in Glasner, David; Cooley, Thomas F., eds. Business cycles and depressions: an encyclopedia. New York: Garland Publishing. pp. 511–13. ISBN 0824009444.
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