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Europe’s Approaching Financial Crisis

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The Seventh-day Adventist Publishing Association · Battle Creek, Michigan · Jan 12, 1864

FromReview and Herald, Vol. 23, No. 7.

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Europe’s Approaching Financial Crisis

FROM the representations of the London Economist, the best of authority, it is evident that Europe is on the brink of a serious financial crisis. The Bank of England, it says, must have bullion, and that the rate of discount will be advanced in order to draw the specie of foreign nations into its vaults. There has been overtrading in cotton, and a very extensive handling of coin among the people of the continent, in anticipation of political revolutions. Failures of large firms are becoming frequent. The London Times of the 9th reports the failure of W. M. DeMattos, of London, with liabilities of about $2,500,000.