William Jones

Panic of 1819 Erupts from Second Bank Speculation and Baltimore Branch Fraud

1819-01-01 00:00:00 +0000 UTC | Importance: 8/10

The United States experiences its first major peacetime financial crisis as the speculative bubble in western land collapses, triggering the Panic of 1819 and a prolonged economic depression. The crisis directly results from the Second Bank of the United States’ reckless lending practices, …

Second Bank of the United States William Jones Langdon Cheves Baltimore branch directors financial-crisis banking-fraud speculation accountability-evasion economic-extraction

Second Bank of the United States Chartered, Immediately Plagued by Speculation and Fraud

1816-04-10 00:00:00 +0000 UTC | Importance: 8/10

Congress charters the Second Bank of the United States as a privately owned institution with a 20-year federal charter, five years after the expiration of the First Bank of the United States. President James Madison, who had opposed the First Bank as unconstitutional in 1791, now supports the Second …

President James Madison U.S. Congress Second Bank of the United States William Jones financial-corruption banking-fraud institutional-capture speculation