The Baring Crisis of 1890 was a minor and acute recession. The bank was facing bankruptcy after making substantial investments based on the prospering nation of Argentina. However, due to inflation and a bad harvest in 1889, a coup ensued in 1890. Barings tried to cover their losses by borrowing money from other banks but they ended up overextending themselves. The Bank of England along with other banks essentially bailed Barings out in order to avoid a more systemic financial crisis.