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Railway Mania - illustration by Alfred Crowquill - a steam train running out of track as
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Railway Mania - illustration by Alfred Crowquill - a steam train running out of track as
Railway Mania - illustration by Alfred Crowquill - a steam train running out of track as it heads to the edge of the precipice... Date: 1845
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1840s 1845 Article Crowquill Edge Finance Heads Illustrations Mania Precipice Railways Running Speculation Stock Track Written
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Railway Mania
EDITORS COMMENTS
- a captivating illustration by Alfred Crowquill, dated 1845, portrays a steam train teetering on the edge of a precipice as it runs out of track. The image encapsulates the frenzied excitement and speculation that gripped the transport sector during the 1840s, a period now referred to as "Railway Mania." At the time, the rapid expansion of the railway network in Britain led to a feverish investment climate, with stocks and shares in railway companies being eagerly bought and sold by stockbrokers and the general public alike. The promise of lucrative returns and the potential for transformative infrastructure projects fueled this mania, leading to an unprecedented surge in railway construction. However, the enthusiasm for railway investment was not without its risks. The construction of new lines and the extension of existing ones required vast sums of capital, which led to a proliferation of railway companies, many of which were poorly managed or financially unsound. As a result, numerous railway schemes proved to be unviable, leading to a significant number of companies going bankrupt and leaving investors with substantial losses. The illustration by Alfred Crowquill poignantly depicts this period of uncertainty and risk, with the steam train, a symbol of progress and innovation, precariously perched on the brink of disaster. The image serves as a reminder of the intoxicating allure and the potential pitfalls of speculative investment, a theme that remains relevant even in today's financial markets. This evocative and thought-provoking illustration, with its rich historical context, offers a fascinating glimpse into the past and the human tendency to be captivated by the promise of great returns, even in the face of uncertainty.
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