The Life and Times of Queen Victoria vol. 3 of 4

The Life and Times of Queen Victoria; vol. 3 of 4

A Commercial CrisisSuspension of the Bank ActThe Fall of LucknowSir Hugh Rose in Central IndiaLast Days of the RebellionThe Operations in ChinaThe Queens Personal Direction of AffairsPalmerstons waning PopularityAttacks on Lord CanningThe Orsini PlotFrench Menaces to EnglandThe Conspiracy BillDefeat of the MinistryThe Second Derby-Disraeli GovernmentAbandonment of the Conspiracy BillThe Queens Opposition to the India BillThe Oudh Proclamation and Ellenboroughs Secret DespatchA Tropical Summer and an Exhausted LegislatureConfirmation of the Prince of WalesThe Queen at Birmingham and LeedsThe Dispute between France and England about the PrincipalitiesThe Queens Visit to CherbourgThe Royal Visit to PrussiaThe Meeting with the Princess Frederick WilliamA Royal MiddieThe Indian ProclamationThe Queen at BalmoralDonatis CometThe Controversy over the Indian ArmyAbdication of the King of PrussiaThe Queens Letter to the Prince of WalesFrance and PortugalFailing Health of the Prince Consort. Towards the end of 1857 the commercial credit of the country was severely shaken. The great railway companies in America sank under the burden of debenture debts: when they failed to pay their creditors, the banks were unable to give gold in exchange for their convertible issue of notes, and then private firms of the highest standing rapidly tumbled into insolvency. The effect of these disasters on English commercial credit was most serious. Houses engaged in American commerce that had been rashly over-trading on the capital of their{2} creditors, fell in rapid succession, dragging down others in their fall. The Western Bank of Scotland stopped payment, and spread ruin far and wide through the districts of which Glasgow is the business centre. The failure of this establishment revealed the fact that gigantic frauds had been perpetrated by the auditors, who had certified the existence of a fictitious surplus of 2,000,000. A panic in Ireland, together with these disasters in Scotland, brought the crisis to a head in England. The sudden demand for gold at the Bank of England alarmed the Government, which, on the 12th of November, suspended the Bank Act, limiting the issue of notes. ......Buy Now (To Read More)

Product details

Ebook Number: 63370
Author: Wilson, Robert
Release Date: Oct 4, 2020
Format: eBook
Language: English