Panics: Difference between revisions

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Panics

etc.

Or see

Notes for dev of this sect

The Currency Problem and the Present Financial Situation: Addresses at Columbia University 1907-1908 Essays (1908)

Contents short

Introduction: The Crisis of 1907 in the Light of History
The Modern Bank
The Stock Exchange and the Money Market
Government Currency vs. Bank Currency
Gold Movements and Foreign Exchanges
The New York Clearing House
Clearing Houses and the Currency
American and European Banking Methods and Bank Legislation Compared
The Modern Corporation

Contents long

1. Introduction: The Crisis of 1907 in the Light of History
- by Edwin R.A. Seligman
- McVickar Professor of Political Economy, Columbia University
2. The Modern Bank
- by Frank A. Vanderlip
- Vice-President of the National City Bank
3. The Stock Exchange and the Money Market
- by Thomas F. Woodlock
- Former Editor of the Wall Street Journal
4. Government Currency vs. Bank Currency
- by A. Barton Hepburn
- President of the Chase National Bank
5. Gold Movements and Foreign Exchanges
- by Albert Strauss
- J.& W. Seligman & Co.
6. The New York Clearing House
- by William A. Nash
- President of the Corn Exchange Bank
7. Clearing Houses and the Currency
- by James G. Cannon
- Vice-President of Fourth National Bank
8. American and European Banking Methods and Bank Legislation Compared
- by Paul M. Warburg
- Kuhn, Loeb & Co.
9. The Modern Corporation
- by George W. Perkins
- J.P. Morgan & Co.

"From another standpoint, however, a distinction may be drawn between financial crises proper and commercial or industrial crises in the larger sense. There may be a financial panic or crisis due primarily to temporary and sudden oscillations in the condition of the money market or in the price of securities. Such oscillations, sharp and sudden though they be, may have but little relation, whether of effect or of cause, to the general commercial and industrial interests. Of this character, for instance, were the original Black Friday in England, in 1745, and its namesake, the famous Black Friday in 1867 in New York, as well as many spasmodic fluctuations due either to political rumors like that which followed the Venezuelan Message of 1895, or to temporary speculative manipulations, like the Northern Pacific "squeeze" of 1901. Of a distinctly different nature are those wider disturbances which are traceable to more general economic causes and which, even though they culminate in acute financial trouble, are followed by an industrial and com- mercial depression of more or less magnitude.

"Into which category is to be put the crisis of 1907; and if in the latter, what were its causes?"

Black Friday(s)

1745 UK
1867 ny
1895 Veneuelan message
1901 Northern Pacific Squeeze

Crises, Eng. since mid 18th

1763
1772
1783
1793
1810
1825

US

1817
1837
1857
1873
1884
1893
1907

Int'l

1837

Other

south sea 1720

@@ Line 27: / Line 27: @@
 Or see [[Category:Financial crises]]
+----
+'''Notes for dev of this sect'''
+''The Currency Problem and the Present Financial Situation:
+Addresses at Columbia University 1907-1908''  Essays  (1908)
+Contents short
+#  Introduction: The Crisis of 1907 in the Light of History
+#  The Modern Bank
+#  The Stock Exchange and the Money Market
+#  Government Currency vs. Bank Currency
+#  Gold Movements and Foreign Exchanges
+#  The New York Clearing House
+#  Clearing Houses and the Currency
+#  American and European Banking Methods and Bank Legislation Compared
+#  The Modern Corporation
+Contents long
+* 1. Introduction: The Crisis of 1907 in the Light of History
+** by Edwin R.A. Seligman
+** McVickar Professor of Political Economy, Columbia University
+* 2. The Modern Bank
+** by Frank A. Vanderlip
+** Vice-President of the National City Bank
+* 3. The Stock Exchange and the Money Market
+** by Thomas F. Woodlock
+** Former Editor of the Wall Street Journal
+* 4. Government Currency vs. Bank Currency
+** by A. Barton Hepburn
+** President of the Chase National Bank
+* 5. Gold Movements and Foreign Exchanges
+** by Albert Strauss
+** J.& W. Seligman & Co.
+* 6. The New York Clearing House
+** by William A. Nash
+** President of the Corn Exchange Bank
+* 7. Clearing Houses and the Currency
+** by James G. Cannon
+** Vice-President of Fourth National Bank
+* 8. American and European Banking Methods and Bank Legislation Compared
+** by Paul M. Warburg
+** Kuhn, Loeb & Co.
+* 9. The Modern Corporation
+** by George W. Perkins
+** J.P. Morgan & Co.
+"From another standpoint, however, a distinction may be drawn between financial crises proper and commercial or industrial crises in the larger sense. There may be a financial panic or crisis due primarily to temporary and sudden oscillations in the condition of the money market or in the price of securities. Such oscillations, sharp and sudden though they be, may have but little relation, whether of effect or of cause, to the general commercial and industrial interests. Of this character, for instance, were the original Black Friday in England, in 1745, and its namesake, the famous Black Friday in 1867 in New York, as well as many spasmodic fluctuations due either to political rumors like that which followed the Venezuelan Message of 1895, or to temporary speculative manipulations, like the Northern Pacific "squeeze" of 1901. Of a distinctly different nature are those wider disturbances which are traceable to more general economic causes and which, even though they culminate in acute financial trouble, are followed by an industrial and com- mercial depression of more or less magnitude.
+"Into which category is to be put the crisis of 1907; and if in the latter, what were its causes?"
+Black Friday(s)
+* 1745 UK
+* 1867 ny
+* 1895 Veneuelan message
+* 1901 Northern Pacific Squeeze
+Crises, Eng. since mid 18th
+* 1763
+* 1772
+* 1783
+* 1793
+* 1810
+* 1825
+US
+* 1817
+* 1837
+* 1857
+* 1873
+* 1884
+* 1893
+* 1907
+Int'l
+* 1837
+Other
+* south sea 1720
+----