1825

Britain had prospered in the early 1820s from low interest rates and a surplus of money. There were two booms, in foreign investment and in trade. ... The middle classes borrowed to invest in the booming economy. Banks kept up with the demand for cash, issuing more banknotes. ... Late in 1825 the bubble burst. ... The visionary companies were the ones that fell furthest.—Ben Wilson, THE MAKING OF VICTORIAN VALUES (2007) p. 277.