1,806,247 research outputs found
Jacksonian Monetary Policy, Specie Flows, and the Panic of 1837
Get PDFThe Panic of 1837 stands among the most severe banking crises in U.S. history, marking the start of a business downturn from which the nation would not recover for six years. Given the serious consequences of the panic for the rapidly evolving commercial and industrial sectors, it is thus not surprising that a number of hypotheses have emerged to disentangle the true' causes from a host of aggravating domestic and international shocks. To this day, however, the event remains not fully understood. In this paper, I organize previously unexploited information from the U.S. government documents and contemporary newspapers to take a fresh look at the panic. These sources point to a new explanation which places neither the official distribution of the federal surplus to the states in the Spring of 1837 nor an international shock at the heart of the crisis, although the latter may have served as a catalyst in the final weeks. Rather, a series of hitherto unremarked interbank transfers of government balances ordered in the year leading up to the crisis combined with a policy-induced increase in the demand for coin in the Western states to drain the largest New York City banks of their specie reserves and render the panic inevitable.
The Suffolk Bank and the Panic of 1837
Get PDFThe Suffolk Bank in Boston is well known as having been the clearinghouse for virtually all the banknotes that circulated in New England between 1836 and 1858. An examination of 19th century bank balance sheets shows that during and after the U.S. banking Panic of 1837, this private commercial bank also provided some services that today are provided by central banks. These include lending reserves to other banks (providing a discount window) and keeping the payments system operating. Because of Suffolk's activities, banks in New England fared better than banks elsewhere during the Panic of 1837. And after the panic, when much of the United States suffered a prolonged economic slowdown, New England fared better than the rest of the country, at least partly because of Suffolk’s central bank-like activities.Bank notes ; Banks and banking - History
Governor's House, Adelaide, South Australia, September 1837 [picture] /
No full textTitle devised by cataloguer based on acquisition documentation, see file NLA03/1285.; Part of the collection: Skipper collection of watercolours and drawings of South Australia, 1836-1885.; Inscriptions: "Governor's Ho. A S.A Sept. 1837"--In ink lower right; "F.M. Edwards"--In ink on verso.; Condition: Yellowing, marked.; Attribution uncertain.; Also available in electronic version via the Internet at: http://nla.gov.au/nla.pic-vn4690946
Trulock family letters, 1837-1855
No full textThis collection contains photocopied correspondence of James Hines Trulock, Amanda Beardsley Trulock, and their slaves, Reuben and Orrin. The letters were written from Georgia and Jefferson County, Arkansas, to the Beardsley family in Bridgeport, Connecticut.; This collection was originally numbered A-43.Trulock family letters, 1837-185
Zenobia [picture] /
No full textPlate facing p. [55] of: The pictorial album, or, Cabinet of paintingsfor the year 1837.; Rex Nan Kivell Collection NK1427/9.; U1701
Native bark canoes, Moira [picture] /
No full textPart of collection: Aboriginals of Australia.; Also available in an electronic version via the Internet at: http://nla.gov.au/nla.pic-an3096938-3
King John's mia mia [picture] /
No full textPart of collection: Aboriginals of Australia.; Also available in an electronic version via the Internet at: http://nla.gov.au/nla.pic-an3096938-10
Camp of young lubras [picture] /
No full textPart of collection: Aboriginals of Australia.; Also available in an electronic version via the Internet at: http://nla.gov.au/nla.pic-an3096938-12
Hut used for winter quarters [picture] /
No full textPart of collection: Aboriginals of Australia.; Also available in an electronic version via the Internet at: http://nla.gov.au/nla.pic-an3096938-8
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