National Banking Era Panics: Why 1907 was handled less boldly
1. Describe immediate and proximate causes of the following panics, 1873 (US), 1884 (US), 1890 (Barings – UK), and 1893 (US). Approximately 350-500 words each. max 700 Discuss timing of suspensions, bankruptcies and economic impacts, issuance of clearing house certificates.
2. Draw comparisons using notes and primary source material explaining how the 1907 panic was handled differently. Please draw inferences from the readings drawing as to why the 1907 panic was taken less effectively. Use Sprague quotations and from Hallock.