The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-20
HE GREAT FINANCIAL CONvULNOAS
HEIR ORIGIN, PROGRESS AND FsRmISAH'a.
he Monetary Crisis Of 1914, 1915, 1915.
THE REVULsION OF 1926.
.he Great Crash of 1886 and 1887.
THH PANIC OF 1857,
&c. 10. 80.

WIEN me -hoH attention Of tho country 10 pals
My exCitsd ~ tue ooramcso al orss's sninh i nv
yrn as, Is Ia uiayly In creating TO refer o.a' 70
sosu whoh have marked sincss svory persd or sa ~
sccn yosu snse She tounc ,on or We gsversnsaa IN
IL lsoxirx sr.o o havo saasavorci 10 oseo1nl he
cy Of she most poiner, N snese, 70 deai ae oaaoa
bch hsy originated, 10 trace her oragsas', snd 10
,ssa their sass usor Ne financial, the cor asca Ana
nesoAnue oondi ioS OF the o,utfy Ibe AYs srss mo
a,, c.pressl,a was hss wpoh faicwed no assuiutpn
nd ~hcb sYeS oct Ss sao ssversnans Sone nj psor TO
stay exp< of Tho war. Faese olla hsve mover
un sedeo AMI sin hold oy To- tsscop5aats
4 Ne c,t.sn Us 20, though m,re ~ ourGsiaSs shan
Nsssh any hops thai lhsy viii ss Sade,asd. Tne 10
sous ;has svei. hoU yer, werc atioae 70 very
ts eut causes Al pf shica Esa forth in ae aanexsd
spaps Of .hoas wh,sn isksa plaao ~ dGcroas 20
,sas up to thai through uhicn 30 are 70 sTogsns-
TIE MONETARY CRISIS OF 1914, 1916 AND
aAs causes OF yse severe aaAnrs depression of .ss
xna aYe Do foupo In he "f 1872 ~n.a p,oducsd
. rssgrasan In busipess Of nearly every descriaion
arssgsous The stry Oar commerce Was sns dss 70
naer fro a because more immediasciy expoied 10 ~
(.cu brit Il is b lovsd thas bad u not Seen Tor The
vac amosrt Of iu ,or,ss Of fossga manufactures
sS tho exportstan Of specie, ihas lhe consequences
yvuIa nes have peen % dbasroos Tue oAaks 10
ns<,y every 5as in tao Union suspaaded specie pay
for he sImpe reason that they vers unA,s
meet the demands upoo them, and others on sns ground
hss would only be taSen cut q tAetr vauAs for ship
s,as n EosAsd in ,ay mens for 10 ported goods The
seess Of this we're ss0a 'ob IN NE gene u Dlis
ses; ana ~ans Of pndesce vh,oh n ~easod,
ss there who readily took sdvsnasa Of tns
pot, ntsy 10 indulge thai Wild spirit OF speculation
Aase ad any, "a ri
sryssy indebted for terrible oshs ,nrouga saioh
e now passrk Uonee ses and osbcr srnss Of foreign
posaoe wore bought up and sod ~ exosoixnly gn
re hrcugncss tne country. Win sho ve~ o possine
ssp 10 ,hesa rmbrBg operations, ncn ocosu upsrn ~
sctcna" were organised in several cities. and although
a. suecesaioi could have been desired, were SAN
ssyunt ntA Ia Partially do'osepg tbs ssscctacrs rcs
ssts Brkhn cove nnens 70 drain tho ccuosry OF
n specie were, nosevos more usl, drsAacd than shs
ssmps Of nnss sordid cauaoeTs wh, caid nsKs out NJ
= efhcuiuss .f their ocnfy opQorsnv FOR psrsoaai
gL Bri gov ere msrs bille " An immense sGoa-s,
wrs pc. In ib~ rnafkst, aad sold .: eios,nooi dis
srss, ara hgh p'emiom OF fanr % e'gns per
nLs Laid Tho con Ion tbGs she sn1 sacuid
b ssds 40 N gold By tho pcmps aodca OF uoag'oss
No % por,slrn - grid sni SILVER wss ARRESTED,
At p,lnon. Of doiIs rcsiccd 10 s cpuc,v ,hs, ~oud
sae--ps nave BEEN sxcaAnged for Br,sn papor moneg
~ AhAc3gn ever excscn "a maze " aver sas crsh
b. hspe re4ns sss fluna iuDos i5o 70 da %, nr 70
passn DO sioe cAsendcd hns k'upcy hich followed
" sx l. ~as Ao-us tas lime .ass II Sas y oJossd to
essA DO Hs.io0Ai OArk waca ~ss ons iorcd a3, 10,
lad Nit1 ,sp,.i sf sab 900 900 ADa -asn ~as sep
rc-a soat y poDp, osy uos, Of speclo, iesd "a.
o4 rals,ns Dsslsutuus ~ olios is example, ln tai
b~vsw, sns prem ere Of sefs sny ?.f.Aiy
ypoosIui; Lpge Damoer Of tts banks IN the dis
Sssns M - ,,h re r.ins 10 mee. the demands Of
hsacrs on ,psm Toe Uuioa B,sk Of se~ Yo Z WA
ne a - ps'S's s.a ans diS al noi
u Frcpo hion Z On. tho vrsnia bAnps v'ion wore Ie
Posa . be is psOseroas ooac,.'n 81 tns sns & 'ns
lasIAtupe Il a0v York, for tno rarJoo Of fofo
II. X neral rssun,t ON Of syeuie pay unscis, sub
to.i suon bang, - fsiea In paying specie
~. % % .s.,ye w. 81 p.S sp' o.ni % . Ss Solder. al
usH naes. In US n n'h OF Aaauss OF iae same ye1
pe't se imooytaii ns Of specie, aud oas,oets "
"a hos rroei' . g.A inpuso Bas tae Bank o. sns
uns sih 5y lie exensios of hs icass, nsd osostes
- Li,S az psisSs shich orousc, a75cs oonrao.on
~. ,iro. "a ~hscn ,be cspns,y ssd n passed rssu
s0as oi pers reduced 70 bs1Kfupsa, ., tois ope
Han, and qt's.d se.e cas- ., rssscrs he o eai.
nd ssrrsnuy =, nd ana neAishy ocnd,lon Altar al
sossh u NAV hsve been oynsifs red - really ~N se
sye vre, y-s In os.ap.Fnoo .irr iae Weseu sA
A., AZ :. ere eIs.oS s !, y ,ssa ,ss.1 "a soa s-oa.S M
~ ,be ~, 10 wss icnteaiy tho mons cf rcanrns
nnsrse iostuDss fw eoae cf cur s,-roilAass. An.ns
poesia. nl posnoa ADoSG tie merosorlo o,rm1nfy az
IL shy. me mserhssis VI Mo 5ouih ssrc h. geiJ In
1ed 20 sin o.. 'sa % ,as sI0sa"s .s , Sssa,ss sS'
tag bat tbs fAr neteriA Nos, 81 o~1Dg 70 tho sApe
Aass ssd become drug In sne nsfEes ~ dis
sss 81 bun In psy sf their debn ~ tae rata sf uo aad
srss and fuur pound Thss p.scs sas ieeisre.
russ n nycsp cent sass those sho nsd
csh, 10 ssly Ia tcs way realised inmssss Tor nnes
n lie .ressrt cri,B soi-cwhAs En;ias caa hes poeS
Aaai ~ =tvea Posion houses, who haze crdefsd anr
a,sa.s 70 aAe Grain tDs. 5reitovs In Tho event cf
anR being uasose " psy 10 unesy.
THE REvULSION OF 1875.
Ins ths pe,isd,c.i essions ~nch have ooouzrrd
stce ;s tee vrL.ro r. sha, year bad 10. crisn he
sanA for Speculation mat likes possason of oar
onnsrciai and mercantile population scoas oaAly
E-rry hing thss tnesed Q prospcos for IN, speedy