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


Project Participants

Lucy Chen
Bonnie Kavoussi
Kelly Peeler
Katherine Savarese

Philipp Lehmann
Joshua Specht

In October 1907, the failed attempt to corner the market on the United Copper Company's stock led to a string of bank runs and a national panic. The failure of numerous banks and trusts, particularly the Knickerbocker Trust Company in New York, led to a crisis of faith in the banking system throughout the United States. Although the economic repercussions were quelled quickly, the panic transformed the way in which Americans viewed the banking system and the fundamental principles by which it was governed.

This web site seeks to explore the events leading up to the Panic, the relevance of specific events and economic trends, and the significance of the Panic as it relates to the current financial crisis. This site exhibits a timeline of events, list of important figures, series of pictures and cartoons, and the following papers listed below:

Banking Reform in a Hostile Climate: Paul M. Warburg and the National Citizens’ League

The Panic of 1907: A Human-Caused Crisis, or a Thunderstorm? A Comparison Between The New York Times and Wall Street Journal’s Coverage of the United States’ First Modern Panic

The Rise and Fall of J. Pierpont Morgan: The Shift in John Pierpont Morgan’s Public Image From the Bailout-out of Moore & Schley Brokerage House in 1907 to the Pujo Hearings in 1913

Perverting Civilization or Pursuing Dreams: Arguments about Executive Compensation Practices in the United States, 1890 to 1940






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