The Panic of 1907 was caused by
A)the collapse of the United States Steel Corporation.
B)the economic policies of President Theodore Roosevelt.
C)excessive government control of the industrial economy.
D)both excessive government control of the industrial economy and the collapse of the United States Steel Corporation.
E)None of these answers is correct.

Question

Quizplus · Accepted Answer

The Panic of 1907 was primarily caused by a lack of liquidity in the banking system and the failure of the Knickerbocker Trust Company, not by the collapse of the United States Steel Corporation or excessive government control.

The Panic of 1907 Was Caused by