Great Panic of 1839 (French Trafalgar, British Waterloo)

The Great Panic of 1839, also known as the Imperial Crash, was a major recession trigered when the French Empire began to run low on capital in 1837, although it wasn't until 5 March 1839 that the French Imperial Bank, the central bank of France, was forced to call in several major loans, but they couldn't be repaid on time, and the entire economy spiraled downward from this point.