Railway Mania
E876598
Railway Mania was a speculative investment bubble in the United Kingdom during the 1840s, marked by frenzied promotion and overbuilding of railways that ultimately led to widespread financial losses.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Railway Mania canonical | 1 |
Statements (49)
| Predicate | Object |
|---|---|
| instanceOf |
economic bubble
ⓘ
historical event ⓘ speculative investment bubble ⓘ |
| alsoKnownAs | Railway Bubble NERFINISHED ⓘ |
| characterizedBy |
formation of many new railway companies
ⓘ
frenzied promotion of railway schemes ⓘ heavy use of newspaper advertising ⓘ insufficient due diligence on projects ⓘ large participation by middle-class investors ⓘ overbuilding of railways ⓘ promotional prospectuses ⓘ rapid rise in railway share prices ⓘ widespread speculation ⓘ |
| comparedTo |
Dot-com bubble
NERFINISHED
ⓘ
South Sea Bubble NERFINISHED ⓘ |
| country | United Kingdom ⓘ |
| economicContext |
Industrial Revolution in Britain
NERFINISHED
ⓘ
expansion of London financial markets ⓘ growth of joint-stock companies ⓘ |
| effectOnInfrastructure |
construction of many mainline routes
ⓘ
creation of a dense railway network in Britain ⓘ overlapping and redundant lines in some regions ⓘ |
| endTime | late 1840s ⓘ |
| historicalSignificance |
key stage in development of the British railway network
ⓘ
major episode in British financial history ⓘ |
| industry | rail transport ⓘ |
| legislativeContext |
Parliamentary approval of railway bills
ⓘ
Railway Regulation Act 1844 NERFINISHED ⓘ |
| location | Great Britain NERFINISHED ⓘ |
| mainCause |
expansion of the London capital market
ⓘ
expectations of high railway profits ⓘ liberalization of railway incorporation laws ⓘ optimism about industrial growth ⓘ speculative fever in railway shares ⓘ |
| notableFeature |
high proportion of schemes never completed
ⓘ
large number of parliamentary railway bills submitted in 1845 ⓘ |
| peakYear | 1845 ⓘ |
| result |
bankruptcies among investors
ⓘ
collapse of many railway schemes ⓘ consolidation of railway companies ⓘ fall in railway share prices ⓘ increased scrutiny of company promotion ⓘ loss of savings for small investors ⓘ more cautious railway investment climate ⓘ public distrust of speculative ventures ⓘ widespread financial losses ⓘ |
| sector | railway construction ⓘ |
| startTime | early 1840s ⓘ |
| timePeriod | 19th century ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.