The panic of 1907. Run on the Colonial Trust Company.
Line of depositors in Ann Street waiting their turn.
The country was thoroughly aroused, and to avoid a nation-wide raid upon
banking houses the bankers took radical steps. The first measure
resorted to was the enforcement of the rule requiring savings-bank
depositors, at the option of the institution, to give sixty days' notice
before withdrawing deposits. The second expedient was one which had been
resorted to during former years of financial unsteadiness. "Emergency
currency" was issued. This currency took various forms. (1) The