Panic of 1890
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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 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 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.
[edit] See also
- Panic of 1819
- Panic of 1837
- Panic of 1857
- Panic of 1873
- Panic of 1884
- Panic of 1893
- Panic of 1896
- Panic of 1901
- Panic of 1907
- Panic of 1910-1911
- Great Depression
[edit] External Links and references
- THE SIXTH GREAT POWER: A History of One of the Greatest of All Banking Families, the House of Barings, 1762-1929. By Philip Ziegler. Illustrated. 430 pp. New York: Alfred A. Knopf.
- W.D. Gann's Forecasting Methods of Stocks and Bonds by D.K.Burton
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