Political Developments: The Economic Panic of 1907 Flashcards
1
Q
What could have been the scale of the 1907 Depression if it had occurred?
A
It could have been on the same scale as the 1893 Depression
2
Q
Who averted the 1907 Economic Panic?
A
J.P Morgan
3
Q
How much money did J.P Morgan give to revive the economy?
A
$20 million
4
Q
How did the resolution of the 1907 Economic Panic show weaknesses within the Federal Government?
A
It showed that they still had to rely on external businesses to avoid potential Depressions
