The hub and source of discord the Panic of 1907 presented was none other than New York City. At the time, New York was a bustling city, similar to the present, where many of the mentioned trades and exchanges occurred, namely the exchange of railroad bonds between New York and London securities markets. This is also where the Stock Exchange was headquartered and when word first spread that the stock market had plummeted. The people who were major catalysts in the increase in public distrust were also stationed there. Knickerbocker Trust, one of the beginning factors that ensued a domino effect of failing banks, was also a prevalent location where many people kept their money and savings before they were forced to close their doors.
Works Cited
Edwards, Adolph. “The Roosevelt Panic of 1907.” 1907. Purdue Libraries. https://babel.hathitrust.org/cgi/pt?id=hvd.32044020023347&view=1up&seq=4
Rodgers, M.T. & Wilson, B.K. "Systemic risk, missing gold flows and the panic of 1907." The Quarterly Journal of Austrian Economics, vol. 14, no. 2, pp. 158+, 2011. Purdue Libraries. https://go.gale.com/ps/i.do?p=AONE&u=purdue_main&id=GALE%7CA267519028&v=2.1&it=r
Frydman, Carola, Hilt, Eric, Zhou, Lily. "Economic Effects of Runs on Early 'Shadow Banks': Trust Companies and the Impact of 1907." The Journal of Political Economy, vol. 123, no. 4, pp. 902-940, 2015. Purdue Libraries. https://web-s-ebscohost-com.ezproxy.lib.purdue.edu/ehost/detail/detail?vid=0&sid=614dbe5a-f1f7-4fd4-9202-75af55da09bf%40redis&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#AN=108825128&db=bth