The Town and Country Magazine:

An issue of Town and Country published in the run-up to the Panic of 1796-1797, the last in a series of economic crises which shook the Anglophone world at the close of the 18th century. Illustrated with two engraved plates including 'The Falling of the Stocks'.

The Panic was precipitated by a collapse in property prices in the nascent USA, and worsened by the passing of the Bank Restriction Act 1797 in Great Britain the following year. This measure was designed to prevent a run on the Bank of England by account holders who feared an imminent French invasion.

An article in this August 1796 issue on 'Fresh Coinage' (p.253) presages the trouble to follow: 'A fresh order has been sent to the Mint Office at the tower, to increase the new gold coinage of guineas and half guineas 50,000l. so that the whole amount will now be 250,000l. which is done for the publick accommodation in the article of circulating specie'.


Periodical; 8vo (21 x 13 cm); illustrated with two full page engraved plates 'The Falling of the Stocks' (bottom margin trimmed) and 'Mr Thomas Paine, Author of the Rights of Man'; disbound but stitches holding, old stab holes; [3], 228-256p.

From ESTC T218904.