1907 Ka Banking Crisis (Panic of 1907)
America 1900s ke shuru mein duniya ki sabse tezi se grow karne wali economy tha, lekin wahan koi Central Bank nahi tha. Phir 1907 mein ek aisi afwah (rumor) udhi jisne system ko hila kar rakh diya.
October 1907, New York. Ek afwah faili ke kuch banks stock market mein heavily loss kar chuke hain. Logon mein darr phail gaya (Panic). Har koi ek saath apna deposit wapas lene bank pahunch gaya. Jaisa humne 'Fractional Reserve' mein padha tha - bank ke paas utna cash tha hi nahi.
Banks ek ke baad ek band hone lage. Stock market 50% gir gaya. Poore America mein cash (liquidity) gayab ho gaya. Government ke paas crisis rokne ka koi system nahi tha kyunki America tab free-banking (bina central authority) system pe chalta tha.
Tab duniya ke sabse powerful private banker J.P. Morgan ne step in kiya. Usne Wall Street ke sab bade bankers ko ek room mein lock kar diya aur apne personal funds aur unke funds mila kar market ko fail hone se bachaya. Ek aam aadmi ne sarkar ka kaam kiya tha.
Sochiye: Agar desh ka poora financial system ek single private banker ki meherbani par tika ho, toh us desh ko actually kaun chala raha hai?
Key Takeaway
1907 ke Panic ne sabit kiya ke Fractional Reserve Banking bohot unstable hai. Jab log panic karte hain, toh bank fail ho jaatay hain. Banker J.P. Morgan na hota toh America doob jaata.