Banking Panics of the Gilded Age [Paperback]

This was the first major study of post-Civil War banking panics in almost a century.This is the first major study of post-Civil War banking panics in almost a century. The author has constructed for the first time estimates of bank closures and their incidence in each of the five separate banking disturbances. The author also reevaluates the role of the New York Clearing House in forestalling several panics and explains why it failed to do so in 1893 and 1907, concluding that structural defects of the National Banking Act were not the primary cause of the panics.This is the first major study of post-Civil War banking panics in almost a century. The author has constructed for the first time estimates of bank closures and their incidence in each of the five separate banking disturbances. The author also reevaluates the role of the New York Clearing House in forestalling several panics and explains why it failed to do so in 1893 and 1907, concluding that structural defects of the National Banking Act were not the primary cause of the panics.This is the first major study of post-Civil War banking panics in almost a century. The author has constructed for the first time estimates of bank closures and their incidence in each of the five separate banking disturbances. The author also reevaluates the role of the New York Clearing House in forestalling several panics and explains why it failed to do so in 1893 and 1907, concluding that structural defects of the National Banking Act were not the primary cause of the panics.1. The bank panic experience: an overview; 2. The banking panic of 1873; 3. Two incipient banking panics of 1884 and 1890: an unheralded success story; 4. The banking panic of 1893; 5. The trust company panic of 1907; 6. Were panics of the national banking era preventable?; 7. Epilogue; Appendix; References; Index. Elmus Wicker's fascinating new book on banking panics is an imaginative investigation. EH.NET (March2001) Banking Panics of the Gilded lsÖ