The Panic of 1907 was a severe financial crisis in the United States that began in October 1907, triggered by a failed attempt to corner the stock of the United Copper Company. The panic led to bank runs, stock market collapses, and the near-collapse of the New York Stock Exchange, with J.P. Morgan ultimately organizing a rescue. The crisis led to the creation of the Federal Reserve System in 1913 to prevent future panics.

The Panic of 1907 and the subsequent creation of the Federal Reserve have been subjects of literary exploration, with poets and writers examining the power of finance and the vulnerability of the economy. The event has been referenced in works that critique the concentration of wealth and the instability of capitalism, themes that resonate in the poetry of the Progressive Era. It also serves as a historical backdrop for understanding the economic anxieties that shaped early 20th-century literature.