1720

The Bern Banking Crisis of 1720

What happened

In 1720, the Swiss city of Bern experienced a severe banking crisis when two of its largest banks, Malacrida and Müller, collapsed due to speculative losses tied to the Mississippi and South Sea bubbles. The failures triggered a local financial panic, wiped out the savings of many Bernese investors, and led to government intervention to restore order. The crisis highlighted how distant speculative manias could destabilize even conservative Swiss financial centers.

Literary impact

The Bern crisis was noted in Swiss chronicles and moralistic writings as a warning against the temptations of speculative greed. It reinforced the image of the prudent Swiss banker as a contrast to the reckless financiers of Paris and London, a theme that appears in later Swiss literature and political satire.

Source: Wikipedia

Poets alive in 1720

23 poets

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