Word: panic
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Dates: during 1900-1909
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...value of a postal savings bank was shown during the recent panic, when foreigners bought $8,000,000 worth of money orders drawn to themselves, rather than trust to the banks. All European countries have adopted this system, so that the ignorant foreigner, accustomed to have the security of the government at home, is totally at a loss in this country. As a result he sends his money home, to Europe. This loss could easily be stopped by the establishment of these postal savings banks. The farmer, who hoards his savings, would also entrust them to a safe and convenient...
...Rhodes read an interesting paper on economic conditions in this country during President Hayes's administration, paying special attention to the notable manner in which Hayes averted the panics following close after the Civil War. Hayes took the presidential chair only after a bitter struggle with Tilden, and with the reputation of being the only president who ever entered upon that office with the word "Fraud" stamped on his forehead. His struggles with the Senate and with the members of his cabinet, in trying to put an end to the panic that was causing so many strikes throughout the country...
Atlantic--"The Face of Clay," by A. S. Pier '95; "The Panic and the Banks," by F. S. Mead '87; "The Popular Ballad," by G. L. Kittredge '82; "Hesper," by Van Dyke...
...best methods of obtaining an elastic currency in times of panic...
...them, was detected by the people. They refused to make further investments. A gradual recall of the foreign capital lent to American firms for investment in securities brought about the final explosion of speculation in 1903. But for the timely revival of agricultural and industrial prosperity a disastrous financial panic would have followed...