ABSTRACT
The great Panic of 1825 was caused by the Bank of England contracting its issues to the extent of three millions and a half, in the short space of six months, and was suddenly arrested by its re-extending them to twice that amount, in as many days. This latter was one of the boldest and most successful measures of a financial character ever adopted, and was the theme of grateful and universal praise, voluntarily tendered to the Bank, but also claimed by the Government of that day for itself. The chief credit of the transaction however, was neither due to the Bank nor the Government, but to the writer of the following pages, from whom it emanated, as by subsequent disclosures he is now enabled to show.
