Panic of 1857

(noun)

The Panic of 1857 was a financial crisis in the United States caused by the declining international economy and an overexpansion of the domestic economy.

Related Terms

  • Ohio Life Insurance and Trust Company

Examples of Panic of 1857 in the following topics:

  • The Panic of 1857

    • The Panic of 1857 was a financial crisis in the United States caused by the overexpansion of the domestic economy.
    • The Panic of 1857 was a financial crisis in the United States caused by an overexpansion of the domestic economy following an international crisis over currency valuation in Britain.
    • The Panic of 1857 was set into motion with the failure of Ohio Life Insurance and Trust Company, which had large mortgage holdings and ties to national investment banks.
    • Bank run on the Seamen's Savings Bank during the Panic of 1857.
    • Examine how the Panic of 1857 impacted the economy and increased sectional tension
  • Economic Booms and Busts

    • The Panic of 1819 was the first major financial crisis in the United States, and occurred during the political calm of the Era of Good Feelings.
    • In 1837, the nation once again faced a financial crisis as a result of the speculative fever of the Market Revolution, known as the Panic of 1837.
    • The Panic of 1837 also arrested business growth for several years.
    • Run on the Seamen's Savings' Bank during the Panic of 1857
    • Bank runs, in which patrons remove all of their funds from a failing bank, were common features of early banking panics in the U.S.
  • Conclusion: The Increasing Inevitability of War

    • A number of events contributed to the breakdown of sectional balance in the 1850s.
    • In 1857, settlers in Kansas were faced with voting on a constitution that outlined a government for the territory.
    • The Panic of 1857 began after the failure of Ohio Life Insurance and Trust Company in September 1857 and lasted until the Civil War.
    • Many Northerners blamed the Panic of 1857 on the South's aggressive proslavery agenda.
    • The Dred Scott decision contributed to the Panic because many Northern financiers found it risky to invest in western territory with the possibility of slavery extending into new U.S. territories.
  • The Panic of 1819

    • The Panic of 1819 was the first major financial crisis in the United States and occurred during the political calm of the "Era of Good Feelings."
    • The Panic of 1819 was the first major financial crisis in the United States and occurred during the political calm of the "Era of Good Feelings."
    • The inflated economic bubble burst in 1819, resulting in the Panic of 1819.
    • Many remedies to the Panic of 1819 were proposed, including the following:
    • He acquiesced in suspending specie payments to bank depositors, setting a precedent for the Panics of 1837 and 1857.
  • J.P. Morgan and the Financial Industry

    • He directed the banking coalition that stopped the Panic of 1907.
    • Morgan went into banking in 1857 at his father's London branch.
    • By 1864–1872, he was a member of the firm of Dabney, Morgan, and Company.
    • In 1871, he partnered with the Drexels of Philadelphia to form the New York firm of Drexel, Morgan & Company.
    • In 1895, at the depths of the Panic of 1893, the Federal Treasury was nearly out of gold.
  • The Election of 1816 and the Monroe Presidency

    • The U.S. presidential election of 1816 resulted in an easy win for James Monroe and ushered in the "Era of Good Feelings."
    • The U.S. presidential election of 1816 came at the end of the two-term presidency of Democratic-Republican, James Madison.
    • Crawford of Georgia.
    • The Panic of 1819 caused a painful economic depression, and an amended bill for gradually eliminating slavery in Missouri precipitated two years of bitter debate in Congress.
    • The Missouri Compromise lasted until 1857 when it was declared unconstitutional by the U.S.
  • The Panic of 1837

    • The Panic of 1837 was a financial crisis, or market correction, driven by speculative fever.
    • The Panic of 1837 was influenced by the economic policies of President Jackson.
    • Martin Van Buren became president in March of 1837, five weeks before the Panic began; he was later blamed for the Panic.
    • Virtually the whole nation felt the effects of the Panic.
    • Whig cartoons depicted the economic challenges caused by the Panic of 1837.
  • Panic and Redemption

    • The global Panic of 1873 reached the United States after overspeculation in the railroad industry and other losses weakened the economy.
    • The Panic of 1873 was a worldwide depression that started when the stock market in Vienna crashed in June 1873.
    • One of the main causes of the Panic of 1873 in the United States was overexpansion in the railroad industry after the Civil War.
    • This unstable economic growth came at the end of a series of economic setbacks: the Black Friday panic of 1869, the Chicago fire of 1871, the outbreak of equine influenza in 1872, and demonetization of silver in 1873.
    • Identify the economic factors that contributed to the Panic of 1873
  • The Transformed National Economy

    • After the short-lived panic of 1873, the economy recovered with the advent of hard money policies and industrialization.
    • From 1869 to 1879, the U.S. economy grew at a rate of 6.8% for real GDP and 4.5% for real GDP per capita, despite the panic of 1873.
    • The Panic of 1873 had New York Stock Exchange closed for ten days.
    • The end of the Gilded Age coincided with the Panic of 1893, a deep depression that lasted until 1897 and marked a major political realignment in the election of 1896.
    • Annotations are major financial panics during the period (e.g., Panic of 1893, Panic of 1907).
  • Mining on the Comstock Lode

    • The Comstock Lode was the first major U.S. discovery of silver ore, located in what is now Virginia City, Nevada in 1857.
    • The Comstock Lode was the first major U.S. discovery of silver ore, located in what is now Virginia City, Nevada, on the eastern slope of Mount Davidson, a peak in the Virginia Range.
    • Gold was discovered in this region—the Gold Canyon—in the spring of 1850 by a company of Mormon emigrants who were part of the Mormon Battalion.
    • The size of the strike and its potential value would take many years of extensive work, thousands of miners, and the investments of millions of dollars—which none of them had.
    • Unlike most silver ore deposits, which occur in long thin veins, those of the Comstock Lode occurred in discrete masses, often hundreds of feet thick.
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