Banks in Newfoundland fail

Historical Context Note

Litencyc Editors (Independent Scholar - Europe)

The Literary Encyclopedia. Volume 3.1.1: Canadian Writing and Culture (Anglophone): Colonial and The Nineteenth Century, 1783-1900.
Vol. editors: Glen Nichols (Mount Allison University), Wendy Roy (University of Saskatchewan), Denis Salter (McGill University), Karis Shearer (University of British Columbia), Cynthia Sugars (University of Ottawa)

Domains

Banking

Dates

Date of occurrence 1894-11

Places

Canada, Newfoundland and Labrador (Location)

Resources

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In the former British colony of Newfoundland, two banks (the Union Bank and Commercial Bank) collapse on the same day, which becomes known as Black Monday. This causes trade to grind to a halt and results in widespread unemployment.

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39 words

Citation: Editors, Litencyc. "Banks in Newfoundland fail". The Literary Encyclopedia. First published 30 December 2011 [https://www.litencyc.com/php/stopics.php?rec=true&UID=19139, accessed 05 May 2024.]

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