Banks in Newfoundland fail

Historical Context Note

Litencyc Editors (Independent Scholar - Europe)
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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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Citation: Editors, Litencyc. "Banks in Newfoundland fail". The Literary Encyclopedia. First published 30 December 2011 [https://staging.litencyc.com/php/stopics.php?rec=true&UID=19139, accessed 23 November 2024.]

19139 Banks in Newfoundland fail 2 Historical context notes are intended to give basic and preliminary information on a topic. In some cases they will be expanded into longer entries as the Literary Encyclopedia evolves.

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