# Founder’s crash (eighteen seventies crash)

- Canonical URL: https://www.gerhardmerk.de/founders-crash-eighteen-seventies-crash
- Post ID: 593493
- Modified: 2023-07-25T21:01:31+00:00
- Language: en

## Definition

Between 1871 and 1873, a boom set in in Western Europe and the USA, during which the steering function of interest rates was severely impaired. A painful crash occurred in 1873; at 1 p.m. on Friday, May 9, 1873, the Vienna Stock Exchange was closed by the police. - The British central bank raised its discount rate no less than twenty-four times during 1873 to slow the boom in England. Incidentally, this is considered a textbook example of successful central bank policy. - See Friday, Black. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec. Professor Dr. Eckehard Krah, Dipl.rer.pol. E-mail address: info@ekrah.com https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk https://www.jung-stilling-gesellschaft.de/merk/ https://www.gerhardmerk.de/

## Machine-readable

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