Argentina 1890: The Baring Crisis and the Panic That Shook a Nation

In 1890, Argentina was the world's tenth-richest nation, a darling of global investors, and the 'granary of the world.' Then the Baring Brothers bank collapsed, triggering a financial panic that plunged the country into depression and sparked a political revolution. This episode explores the causes of the crisis: the unchecked speculation of President Miguel Ángel Juárez Celman's 'Unicato,' the over-leveraged banking system, and the sudden stop of British capital. We trace the domino effect from the failed Banco Nacional to the cacerolazo protests in Buenos Aires, and the rise of the Unión Cívica Radical under Leandro Alem. The crisis reshaped Argentina's economy and politics, planting seeds for the 1890 Revolution and the eventual fall of the oligarchic regime. A cautionary tale of boom and bust in the belle époque.

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