panic

恐慌　—　Phenomena

Credit shrinking all at once and the economy stopping short.

Twenty-franc gold coin of Ceres — A photograph of the real thing this term names.

Ten-cent note of a state-chartered bank — A photograph of the real thing this term names.

Lenders call in their loans all at once, and those who should have been able to pay become unable to do so. ⚠ This chain reaction proceeds faster than the actual deterioration of the fundamentals.

Related terms

crisis bank run collapse

Terms explained using this word

lender of last resort bankruptcy fear

Courses where this term appears

A00 A Sketch of 2,700 Years A06 The World of the Gold Standard B12 Banking and Credit C11 The Life and Death of the Gold Standard F6 Coinage and Epidemics/Disasters

Where this word appears

Overview: 2,700 years of the world　The machine and the revolution　The United States
United States　The Second Bank of the United States　Towns across America
United States　The age of the wildcat banks　A port town in the panic
United States　The national banking system　New York, Wall Street
United States　The thirty years' war of gold and silver　New York, the financial district
United States　The Gold Standard Act of 1900　America, the house of the gold standard
United States　The Panic of 1907　New York, the counter of a trust company
United States　1913　Washington

and 22 more chapters

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