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Updated:Apr 23, 2026
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Regional bank failures and financial contagion in the American West (1907–1908)

Regional bank failures and financial contagion in the American West (1907–1908)

  1. San Francisco earthquake strains financial reserves

    Labels: San Francisco, Insurance payouts, International gold

  2. Nation enters recession before the banking panic

    Labels: U S, National Bureau

  3. United Copper corner attempt fails in New York

    Labels: United Copper, Stock corner

  4. Butte’s State Savings Bank suspends amid spillover

    Labels: State Savings, F Augustus

  5. Knickerbocker Trust closes, intensifying national runs

    Labels: Knickerbocker Trust, Bank run

  7. San Francisco issues interbank clearinghouse loan certificates

    Labels: San Francisco, Loan certificates

  8. California’s governor declares banking “legal holidays”

    Labels: California governor, Legal holidays

  9. San Francisco releases public-use clearinghouse certificates

    Labels: Public clearinghouse, San Francisco

  10. Los Angeles issues clearinghouse certificates during cash strain

    Labels: Los Angeles, 1 certificate

  11. California creates “special holidays” for affected transactions

    Labels: Special holidays, Affected transactions

  12. National Monetary Commission formed to prevent repeats

    Labels: National Monetary, Federal reform

  13. Contraction continues through mid-1908, confirming damage

    Labels: Recession continuation, Credit tightening

  14. Federal Reserve created, aiming to limit future contagion

    Labels: Federal Reserve, Central banking