Hoarding in the Panic of 1907

A. Piatt Andrew

The Quarterly Journal of Economics, 1908, vol. 22, issue 2, 290-299

Abstract: The panic of 1907 witnessed a premium upon money in New York lasting two months and rising as high as 4 per cent., 290–293.—The extent of hoarding on the part of the public is roughly indicated by the amount of money that disappeared from the banks, 293; and by the number of safe deposit boxes rented in New York and other cities, 294–296.—The banks of the South and West aggravated the situation by accumulating abnormal reserves, 296–299.

Date: 1908
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