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[ECONOMICS AND EUROPEAN AMERICANA]. Ministere de L'Agriculture du Commerce et des Travaux PubliquesBiblio.com

Etats-Unis.Crise financiere et Commerciale de 1857.

ref. 3384Paris: Imprimerie et Librairie Administratives de Paul Dupont 1858. . Small folio late 19th century marbled boards cloth spine slightly abraded; original blue printed wrappers bound in; blindstamp of the Boston Public Library on the first page; unopened. The July 1858 issue of "Annales du Commerce Exterieur". The immediate cause of the 1857 panic was the failure of the New York branch of the Ohio Life Insurance and Trust Co. a major financial force that collapsed following widespread embezzlement. Others causes included the removal of funds from U.S. banks by British investors which raised questions about the overall U.S. economy. The fall of grain prices which spread economic misery into rural areas. The collapse of land speculation programs that depended on new rail routes ruining thousands of investors. Investor confidence was further shaken in mid-September when 30000 pounds of gold were lost at sea in a shipment from the San Francisco Mint to eastern banks. The gold and SS Central America sank during the North Carolina Hurricane of 1857. Public confidence in the government's ability to back its paper currency with specie was shaken as well. Eventually the panic and depression spread to Europe South America and the Far East. No recovery was evident in the United States for a year and a half and the full impact did not dissipate until the Civil War. The South was hurt less than the other regions of the country and many there concluded that the superiority of their economic system had been vindicated this has been posited as a contributing factor to the secession of many of the Southern States resulting in the Civil War. Pages 57-62 outline the trade between France and the United States during the years 1856-1857 with a retrospective look at past trade. Paris: Imprimerie et Librairie Administratives de Paul Dupont, 1858. hardcover

Franklin Gilliam :: Rare Books · Estados UnidosUS$ 550,00≈ € 491,38

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