The stock market crash - and after

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Monograph

Identifikator:: 1815583320

URN:: urn:nbn:de:zbw-retromon-204544

Document type:: Monograph

Author:: Fisher, Irving http://d-nb.info/gnd/118533541

Title:: The stock market crash - and after

Place of publication:: New York

Publisher:: Macmillan

Year of publication:: 1930

Scope:: XXVI, 286 S.; graph. Darst

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter III. Causes of the Panic

Collection:: Economics Books

CHAPTER III CAUSES OF THE PANIC WHAT were the causes of the panic of 1929? That the stock market crash was “primarily pre- cipitated by foreign liquidation” is the view expressed by John S. Sinclair in the New York Times of October 27th. This liquidation accompanied the so- called Hatry Panic on the London Stock Exchange, which resulted in a deeper fall of the London stock price level—45.4 per cent from August 30th to December 27th, according to the British index—than occurred on the New York Stock Exchange between the high point on September 7th and the bottom of November 13th. Few realize today that the greatest fall of stocks in British history, comparable only with the Baring Panic of 1890, preceded and was an actuating cause of the American panic, and that a coincident fall in Paris and Berlin accom- panied the British liquidation. It began with the failure of the banking house of Clarence Hatry in August, followed by his arrest in September and subsequent conviction for a gigantic forgery of stock certificates. This started the British liquidation in London and in New York. Barron's W eekly of

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