Panic on Wall Street: A History of America's Financial Disasters

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Beard Books, 1999 - 469 pages

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William Duer and the Panic of 1792
The Crisis of Jacksonian Finances 1837
The Western Blizzard of 1857
The Circus Comes to Town 186569
Crisis of the Gilded Age 1837
Grants Last Panic 1884
Grover Cleveland and the Ordeal of 189395
The Struggle of the Titans The Northern Pacific Corner of 1901
The Year the Stock Market Closed 1914
1929 The Making of the Myth
The Kennedy Slide 1962
A Note on Sources
General Bibliography

The Knickerbocker Trust Panic of 1907

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Page 400 - Congress hereby declares that it is the CONTINUING policy AND responsibility of the Federal Government TO USE ALL PRACTICABLE MEANS consistent with its needs and obligations and other essential considerations of national policy WITH THE ASSISTANCE AND COOPERATION OF industry, agriculture, labor, and State and local governments, TO COORDINATE AND UTILIZE ALL ITS PLANS, FUNCTIONS, AND RESOURCES FOR THE PURPOSE...
Page 393 - I am not ashamed to record that in those days I felt and said I would be willing to part with half of what I had if I could be sure of keeping, under law and order, the other half.
Page 152 - Crowding the Gold Room's rounded sides, Jostling, trampling each other's feet, Uttering groans in the outer street ; Watching, with upturned faces pale, The scurrying index mark its tale ; Hearing the bid of Israel Freyer, — That ominous voice, would it never tire ? " Five millions more ! — for any part, (If it breaks your firm, if it cracks your heart,) I'll give One Hundred and Sixty...
Page 52 - The paper system being founded on public confidence and having of itself no intrinsic value, it is liable to great and sudden fluctuations; thereby rendering property insecure and the wages of labor unsteady and uncertain. The corporations which create the paper money cannot be relied upon to keep the circulating medium uniform in amount.
Page 152 - One Hundred and Sixty ! Can't be true ! What will the bears-at-forty do ? How will the merchants pay their dues V How will the country stand the news ? What'll the banks— but listen ! hold ! In screwing upward the price of gold To that dangerous, last, particular peg, They had killed their Goose with the Golden Egg ! Just there the metal came pouring out, All ways at once, like a...
Page 77 - If you defeat them at this session, they (the railway companies) will be here in greater force than ever at the commencement of the next. Their importunity will never cease whilst the least hope of success shall remain, and we have learned from our experience that they have both the ability and the will to select shrewd and skillful agents to accomplish their purposes before...
Page 72 - You may tell your government, that you have seen the man who is at the head of the finances of Europe and that he has told you — that they cannot borrow a dollar, not a dollar.
Page 211 - I had been President of the United States," he later testified, "and I did not think it was suitable for me to have my name connected with Government contracts, and I knew that there was no large profit in them except by dishonest measures. There are some men who get Government contracts year in and year out, and whether they manage their affairs dishonestly to make a profit or not, they are sometimes supposed to, and I did not think it was any place for me.
Page 106 - September 5 September 12 September 19 September 26 October 3 October 10 October 17 October 24 October 31 November 7 November 14 November 21 November 28 December 5 December 12 December 19 December 26...
Page 39 - The banks lent out their notes to speculators; they were paid to the receivers, and immediately returned to the banks, to be lent out again and again, being mere instruments to transfer to speculators the most valuable public land, and pay the government by a credit on the books of the banks. Those credits on the books of some of the western banks, usually called deposits...

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