It was created on December 23, 1913, with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907.

* September 24 – " Black Friday ": The Fisk-Gould Scandal causes a financial panic in the United States.

However, in the 19th and early 20th centuries, financial crises were traditionally referred to as " panics ", e. g., the ' major ' Panic of 1907, and the ' minor ' Panic of 1910 – 1911, though the 1929 crisis was more commonly called " The Crash ", and the term " panic " has since fallen out of use.

To some degree this is simply a stylistic change, similar to the decline in the use of " panic " to refer to financial crises, but it does also reflect that the economic cycle – both in the United States and in most OECD countries – though not in all – has been more moderate since 1945.

Unfortunately for Yerkes, this speculation ended calamitously when the Great Chicago Fire sparked a financial panic.

A usage of the law occurred at the outbreak of the World War I in 1914 when the first great financial panic of the 20th century befell the world, necessitating the closure of the New York Stock Exchange.

The result was that with the financial panic of 1873, followed by the " grasshopper raid " of 1874, nearly all improvement stopped, value of property depreciated, and many of the settlers ( nearly one-third ) left the county.

The union was disbanded in 1837 as a result of the financial panic of that year, and the subsequent Depression.

But before the company could get going again, the financial panic of 1873 severely reduced the railroads ’ buying of new cars.

The financial panic of 1893 altered the developers ’ plans and put a damper on the village's growth.

Once the bubble bursts, the fall in prices causes the collapse of unsustainable investment schemes ( especially speculative and / or Ponzi investments, but not exclusively so ), which leads to a crisis of consumer ( and investor ) confidence that may result in a financial panic and / or financial crisis ; if there is monetary authority like a central bank, it may be forced to take a number of measures in order to soak up the liquidity in the financial system or risk a collapse of its currency.

The financial panic of 1837 took a toll on his estate.

The central banking system of the United States, called the Federal Reserve system, was created in 1913 by the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907.

The TSX grew continuously in size and in shares traded, save for a three month period in 1914 when the exchange was shut down for fear of financial panic due to World War I.

In 1839 the government of Upper Canada approved the purchase of shares in the canal company in response to the company's continuing financial problems in the face of the continental financial panic of 1837.

U. S. Treasury Secretary Henry M. Paulson as well as the White House went on the air to defend the financial soundness of Fannie Mae, in a last-ditch effort to prevent a total financial panic.

A mild financial panic ensued from late-1833 to mid-1834.

With the financial panic of 1873, Olmsted and Vaux ceased significant operations in the park and dissolved their partnership.

Unlike some similar financial crises, such as the Mexican and the Argentine financial crises of 1994 and 2001 respectively, this devaluation was planned, done in an orderly, pre-announced manner and did not lead to financial panic in the world markets.

* September – Panic of 1857 begins: Speculation in U. S. railroad shares and collapse of the Ohio Life Insurance and Trust Company trigger a financial crisis which will extend to Europe.

In 1857 the final crisis of the free banking era of international finance began as American banks suspended payment in silver, rippling through the very young international financial system of central banks.

When the bank failed during the financial Panic of 1857, he closed the New York branch.

In spite of a financial respite, the winter of 1857 was a difficult one for Whistler.

The Panic of 1857, a national financial crisis, halted further organization of the company and construction of the works.

A charitable individual, Hopkins put up his own money more than once to not only aid Baltimore City during times of financial crises, but also to twice bail the railroad out of debt, in 1857 and 1873.

Becoming the object of rumors of financial scandal, he moved to the Minnesota Territory in 1857, where he settled in Dakota County.

Wharton proved himself by negotiating a new charter for the works, and in the difficult financial environment of 1857 – 1858 he took over control of the zinc works and managing it carefully turned a profit.

The financial panic of 1857 resulted in Kelly's bankruptcy, and he was forced to sell his patent.

A few historians believe that the serious financial panic of 1857 and the economic difficulties leading up to it strengthened the Republican Party and heightened sectional tensions.

From 1855 to 1857, his actions as president are manic and delusional with Walker antagonizing his financial backer, by revoking Vanderbilt's license to the overland trade route.

As a result of the financial panic of 1857, the M & M went into receivership in 1859, and was purchased by the Milwaukee and Prairie du Chien in 1861.

Thus, in spite of the family's strained financial situation, his father decided to support Abbe's studies at the Universities of Jena ( 1857 – 1859 ) and Göttingen ( 1859 – 1861 ).

His father was Charles S. Boker, a wealthy banker, whose financial expertness weathered the Girard National Bank through the panic years of 1838-40, and whose honour, impugned after his 1857 death, was defended many years later by his son in " The Book of the Dead.

The Panic of 1857 was a financial panic in the United States caused by the declining international economy and over-expansion of the domestic economy.

Indeed, because of the interconnectedness of the world economy by the time of the 1850s, the financial crisis which began in the autumn of 1857 was the world's first world-wide economic crisis.

Beginning in September 1857, the financial downturn did not last long ; however, a proper recovery was not seen until the American Civil War.

Since the years immediately preceding the Panic of 1857 were prosperous, many banks, merchants, and farmers had seized the opportunity to take risks with their investments and as soon as market prices began to fall, they quickly began to experience the effects of financial panic.

For example, the town of Keokuk, Iowa experienced financial strife due to the economic downturns of 1857.

In December of 1857, Buchanan revealed his new strategy of “ reform not relief ,” which focused on the idea that “ the government sympathized but could do nothing to alleviate the suffering individuals .” To avoid further financial panics, President Buchanan encouraged the United States Congress to pass a law to provide an immediate forfeit of a bank charter in the event that the bank suspended specie payments.

In 1857, he became a partner in E. W. Clark & Co., a private Philadelphia financial firm.

When John North suffered financial failure in the Panic of 1857, his business interests were purchased in 1859 by his friend, Charles Augustus Wheaton, who had moved to Northfield from Syracuse on the advice of the Norths after the death of Wheaton's first wife.

John North suffered financial failure in the Panic of 1857.

The financial panic of 1856 and depression of 1857 ruined him financially and he decided to leave Maine and moved to Milwaukee, Wisconsin, to restart his career.