Seattle's Unified Defense Against the Panic
While other cities suffer the economic crash, Seattle bankers and merchants unite to protect their depositors and maintain stability.
One exception to the cities along the coast seems to be Seattle, Wash. When the Seattle people saw the panic coming, they had a town meeting, and all the solvent banks, prominent merchants and big real estate owners of the city entered into a combination to protect depositors in all banks that came into their circle. The result has been that they have had little or no trouble in Seattle and that buildings and improvements are going on there faster than ever.
“When the Seattle people saw the panic coming, they had a town meeting, and all the solvent banks, prominent merchants and big real estate owners of the city entered into a combination to protect depositors.”
Seattle’s tendency toward aggressive 'boosterism' in the face of economic hardship has deep roots. This narrative of civic unity during the 1893 panic is a classic example of the city selling itself as a resilient, exceptional hub, a precursor to modern economic development marketing.
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