The Panic of 1792 was a financial credit crisis that occurred during the months of March and April 1792, precipitated by the expansion of credit by the newly formed Bank of the United States as well as by rampant speculation on the part of William Duer, Alexander Macomb, and other prominent bankers. Duer, Macomb, and their colleagues attempted to drive up prices of United States (U.S) debt securities and bank stocks, but when they defaulted on loans, prices fell, causing a bank run. Simultaneous tightening of credit by the Bank of the United States served to heighten the initial panic. Secretary of the Treasury Alexander Hamilton was able to deftly manage the crisis by providing banks across the Northeast United States with hundreds of thousands of dollars to make open-market purchases of securities, which allowed the market to stabilize by May 1792.[1]
^Brown, Abram (July 4, 2019). "The High Crimes and Misadventures of William Duer, The Founding Father Who Swindled America". Forbes. Retrieved August 21, 2022.
The Panicof1792 was a financial credit crisis that occurred during the months of March and April 1792, precipitated by the expansion of credit by the...
The Panicof 1893 was an economic depression in the United States that began in 1893 and ended in 1897. It deeply affected every sector of the economy...
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reales. Panicof 1785 – United States Panicof1792 – United States Panicof 1796–1797 – Britain and United States Danish state bankruptcy of 1813 Post-Napoleonic...
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Sylla, Richard; Wright, Robert (2006), "The US Panicof1792: Financial Crisis Management and the Lender of Last Resort", New York University, working paper...
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crisis of 1772-1773 in London and Amsterdam, begun by the collapse of the bankers Neal, James, Fordyce and Down. Panicof1792, New York Panicof 1796–1797...
Archived from the original on 14 March 2008. Retrieved 24 May 2010. ( "Panic at the Pump". Time Magazine. 14 January 1974. Archived from the original...
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(1775–1783). Panicof1792 – run on banks in US precipitated by the expansion of credit by the newly formed Bank of the United States Panicof 1796–1797...
Hamilton, Central Banker: Crisis Management during the U.S. Financial Panicof1792". Business History Review. 83 (1): 61–86. doi:10.1017/s0007680500000209...
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Sobel, Robert (1988). Panic on Wall Street: A Classic History of America's Financial Disasters with a New Exploration of the Crash of 1987. New York: Truman...
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on-demand withdrawals or suspending withdrawals altogether. A banking panic or bank panic is a financial crisis that occurs when many banks suffer runs at...
solution to the panic and chaos on the trading floor. The meeting included Thomas W. Lamont, acting head of Morgan Bank; Albert Wiggin, head of the Chase National...
crises were traditionally referred to as "panics", e.g., the 'major' Panicof 1907, and the 'minor' Panicof 1910–1911, though the 1929 crisis was more...
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of goods and services in an economy. This is usually measured using the consumer price index (CPI). When the general price level rises, each unit of currency...
The Baring crisis or the Panicof 1890 was an acute recession. Although less serious than other panicsof the era, it is the nineteenth century’s most...
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