Too Early for CSA
Posted by Ken on December 18, 1997 at 15:46:26:
In response to Bankruptcy, written by Karen R on December 18, 1997 at 13:48:40
] Not know the precise year this occurs, I'll just throw out a few potential reasons: Fall of the First Bank of the United States, Fall of the Second Bank of the United States, the Panic of 18xx, the Panic of 18xx+1, etc. There were lots of financial panics, market crashes, and bank failures in the 19th century...even into the early 20th century. Were these securities of the confederate states, perhaps??? Things were not as "rock" solid (as the full faith and credit that now stands behind U.S. currency and U.S. government securities)!!
I think you have to take it that this is no earlier than 1843 or so--too early for the CSA by a generation. It's in the back of my mind that there was either a panic or a National Bank crash in '42 or so, probably both together.
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