SCENES OF GREAT FINANCIAL PANICS

Taken from a c. 1902 beat up old text book, missing its covers and title pages: you may notice that the banks and financial institutions regularly bring disaster upon the nations of the world. Of course we all know what happened in 1929 and after. There are only two conclusions to this: either the so-called financial experts of the world are a bunch of fakers who don't know what they're doing, or else they know exactly what they are doing.

The remarkable monetary crises during the 19th century were as follows:
1814 --- In England, 240 banks suspended.
1825 --- In Manchester, the failures amounted to 2 million pounds.
1831 --- In Calcutta, the failures aggregated 15 million pounds.
1837 --- In the United States, this was the time of the "wildcat" crisis; all banks closed.
1839 --- The Bank of England was saved by the Bank of France. The crisis was severe also in
France where 93 companies failed for 20 million dollars.
1844 --- In England, the government loaned to merchants; the Bank of England was reformed.
1847 --- In England, the failures amounted to 20 million dollars; discount was 13 per cent.
1857 --- In the United States, 7,200 houses failed for 111 million dollars.
1866 --- In London occurred the Overend-Gurney crisis; failures exceeded over 100 million dollars.
1869 --- September 24th of this year was Black Friday in New York (Wall Street)
1873 --- Many banks failed and great commercial enterprises were driven to the wall in the
United States.
1893-95 --- The question of a silver or gold standard was greatly agitated, and the United
States passed through a financial crisis which wrecked thousands of business firms and brought
on general financial disaster.

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