start exploring

The Worst Financial Crises The World Has Ever Seen

Credit Crisis of 1772

Scholars and economists call the 1772 British credit crisis the first modern Bank of England financial crisis.

Copper Panic of 1789

The Copper Panic of 1789, when enormous amounts of false copper coins entered circulation, devalued real copper

and caused the American public to lose faith in it, led to the US's move to paper money.

The Recession of 1802

After Napoleon won the French Revolutionary War, US economic stimulation ended.

This alone put the US economy in danger, but Barbary pirates (Muslim pirates from North Africa) caused a recession that led to the First Barbary War.

Recession of 1812

The US had a brief but severe recession before the War of 1812. The war machine's manufacturing increase saved the economy.

The Poyais Scheme of 1825

Gregor MacGregor's 1825 swindle created a recession.

MacGregor gained thousands by encouraging others to invest in and buy land grants for an ideal Central American country named Poyais that, in truth, never existed.

Panic of 1837

American government and financial failures caused the 1837 panic and recession.

Panic of 1873

The collapse of Jay Cooke & Co., the nation's largest financial company at the time, sparked the Panic of 1873.

Panic of 1884

Once Marine National Bank and Grant & Ward collapsed, the railroad industry's downfall produced a recession that began in 1882.

To prevent financial collapse, the New York Clearing House bailed out failing banks.

Want To See More Stories of Zodiac Signs

Click Here