Acheson, Graeme G.; Turner, John D. - In: Explorations in Economic History 45 (2008) 3, pp. 235-253
In 1878, one of Britain's largest banks, the City of Glasgow Bank, collapsed, leaving a huge deficit between its assets and liabilities. As this bank, similar to many other contemporary British banks, had unlimited liability, its failure was accompanied by the bankruptcy of the vast majority of...