The caption for this 1888 illustration reads: Every bank in city [New York] suspended payment by October 14, 1857. 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. Because of the invention of the telegraph by Samuel F. Morse in 1844, the Panic of 1857 was the first financial crisis to spread rapidly throughout the United States. The world economy was also more interconnected by the 1850s, which also made the Panic of 1857 the first worldwide economic crisis.
![The caption for this 1888 illustration reads: Every bank in city [New York] suspended payment by October 14, 1857. 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. Because of the invention of the telegraph by Samuel F. Morse in 1844, the Panic of 1857 was the first financial crisis to spread rapidly throughout the United States. The world economy was also more interconnected by the 1850s, which also made the Panic of 1857 the first worldwide economic crisis. Stock Photo](https://c8.alamy.com/comp/2G2HB2Y/the-caption-for-this-1888-illustration-reads-every-bank-in-city-new-york-suspended-payment-by-october-14-1857-thepanic-of-1857was-a-financial-panic-in-the-united-states-caused-by-the-declining-international-economy-and-over-expansion-of-the-domestic-economy-because-of-the-invention-of-thetelegraphbysamuel-f-morsein-1844-the-panic-of-1857-was-the-first-financial-crisis-to-spread-rapidly-throughout-the-united-states-the-world-economy-was-also-moreinterconnectedby-the-1850s-which-also-made-the-panic-of-1857-the-first-worldwide-economic-crisis-2G2HB2Y.jpg)
RFID:Image ID:2G2HB2Y
Image details
Contributor:
Ivy Close Images / Alamy Stock PhotoImage ID:
2G2HB2YFile size:
53.3 MB (3.2 MB Compressed download)Releases:
Model - no | Property - noDo I need a release?Dimensions:
5340 x 3489 px | 45.2 x 29.5 cm | 17.8 x 11.6 inches | 300dpiDate taken:
15 March 2021More information:
This image could have imperfections as it’s either historical or reportage.