Alternate History

Great Panic of 1839 (French Trafalgar, British Waterloo)

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The Great Panic of 1839, also known as the Imperial Crash, was a major recession trigered when the French Empire began to run low on capital in 1837, although it wasn't until 5 March 1839 that the French Imperial Bank, the central bank of France, was forced to call in several major loans, but they couldn't be repaid on time, and the entire economy spiraled downward from this point. It was only when Napoleon II allowed the release of several million francs from the Imperial Finances that the recession was stopped and, ultimately, the economy was brought to an end.

Other Nations Affected

Almost every nation that was allied or an "associate" of the French Empire was severally affected. The most sevearlly affected nation was the Confederation of the Rhine, with over 30% of the employed population thrown out of work. The United States of America was the least affected, with only 10% of the working population unemployed. However, one of those of the unemployed masses, James Finley, was responsible for the assassination of William Henry Harrison. France had a 17% unemployment rate.

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