Labour V Capital cartoonA swarm gathers on Federal Hall in Wall Street during the bank panic in October 1907The Aldrich Plan - a cartoonA February 2, 1910 editorial cartoon in Puck, a political satire magazine from 1871 to 1918, titled: "The Central Bank—Why should Uncle Sam establish one, when Uncle Pierpont is already on the job?The headquarters of the Knickerbocker Trust Company at the northwest corner of Fith Avenue and 34th Street
The 1907 Crisis in Historical Perspective



The Joint Center for History and Economics would like to thank Laura Linard, Director of Historical Collections, Christine Riggle and Katherine Fox of the Baker Library of the Harvard Business School, for their interest in and assistance to the 1907 project; and the staff of the Harvard University Archives and of Yale University Manuscripts and Archives, for their assistance to the authors of the 1907 working papers.


Lucy D. Chen (Harvard University, Class of 2011) is concentrating in History with a secondary field in Economics. She plans to develop her interest in the life of Paul M. Warburg by writing a senior thesis on his role in creating the U.S. Federal Reserve System and his anticipation of the Great Depression.

Bonnie Kavoussi (Harvard University, Class of 2011) is pursuing a History concentration. She covered real estate for The New York Observer last summer and will be interning at The Boston Globe’s Business section this summer. She is also a faculty news editor at The Harvard Crimson and editor-in-chief of Persephone Magazine.

Kelly Peeler (Harvard University, Class of 2010) will receive her B.A. in History and a Secondary Field in Economics in May, 2010. She has worked on the role of financial institutions in the Panic of 1907, the Crash of 1929, and the Great Depression. After graduation she will begin working as an analyst at J.P. Morgan.

Katherine M. Savarese (Harvard University, Class of 2011), is pursuing a concentration in History with a secondary in Studio Art. Spurred by her interest in responses to the recent financial crisis, her thesis will explore economic arguments about executive compensation practices in the United States and Great Britain between 1890 and 1940. This summer she plans to conduct archival research in Cambridge and London, funded by grants from the Center for European Studies and the Charles Warren Center for Studies in American History.


Philipp Lehmann is a PhD candidate in the History Department at Harvard University. He received his AB from Princeton University in 2006 and his MPhil in Modern European History from the University of Cambridge in 2007. In his former years of study, Philipp has worked on the cultural and institutional origins of the pro-colonial movement in Germany and on the history of imperial information networks in Southwest Africa. His current research interests revolve around late nineteenth-century theories of environmental change and their connection to imperial projects in Africa.

Josh Specht is a PhD candidate in the History Department at Harvard University. He received his B.A. from the College of William and Mary in 2007 and has worked on the history of money and the history of food production and consumption in nineteenth- and twentieth-century America. His current research interests include the development of the US veal industry and the emergence of industrial agriculture.


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