Panic of 1847
Minor British banking crisis / From Wikipedia, the free encyclopedia
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The Panic of 1847 was a major British commercial and banking crisis, possibly triggered by the announcement in early March 1847 of government borrowing to pay for relief to combat the Great Famine in Ireland.[1][2] It is also associated with the end of the 1840s railway industry boom and the failure of many non-bank lenders.[3][4] The crisis was composed of two phases, one in April 1847 and one in October 1847, which was more serious and known as 'The Week of Terror'.[5][6]