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 [1] 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 [2] 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.
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