THE PANIC OF 1857 In June of 1854 the North Node passed in Taurus, which indicated that the Economic Curve of business was now moving slowly from Normal to “Below Normal.” The period of passing through the signs of Taurus and Aries was a Transition Period and marks the years from 1854 to 1857 as a Transition Era, despite the fact that business volume was to points above Normal during the middle of 1856. This was due to the presence of a favorable secondary factor, Jupiter in Pisces. Pisces is the sign which governs the topmost point on the chart of the New York Stock Exchange and shows business conditions at large.
Jupiter was also in conjunction with the North Node and with Neptune, the planetary ruler of Pisces. The combination of these factors showed the above normal business activity during 1856. Stocks were up and business was very good. In February 1857, Saturn was square the North Node, although Jupiter was in conjunction with it. This caused a drop of three points in Business volume and as Saturn was in Cancer during all of 1857 it was passing over the Ascendant of the chart of the New York Stock Exchange, a critical point for showing action on the New York Stock Exchange. Stock prices dropped all spring and summer and business volume shrank during this period culminating in the fall in a sharp drop which carried business volume thirteen points below Normal.
This was known as the Panic of 1857. Economists attribute this Panic to over development in the West and excessive railroad construction during this period. The Panic was clearly shown, however, by the fact that the lunation (conjunction of the Sun and Moon every twenty-eight days) for September fell in 25 degrees Virgo in exact opposition to the Mid-heaven of the New York Stock Exchange and in exact opposition to the North Node, and Nep-tune also, in the Mid-heaven of this Chart in 27 and 21 degrees of Pisces respectively. Referring to the Business Cycle Chart, it is easy to see that Pisces is the sign next to the lowest for business activity and prices and that the Business Curve was now “Below Normal.” The effects of the Panic of 1857 was felt throughout 1858 with business volume from ten to six points below normal.
In February 1859, the North Node moved into the sign of Aquarius, which is the sign on the lowest point of the Business Cycle Chart. This indicates that the Business Curve was at its lowest point with prices below normal. However, a glance at the graph depicting business volume for the period shows that business hovered from two points above normal to two points below normal in activity; therefore, some strong secondary factor must have been present which indicated that prices and business volume were up to normal.
This was the condition present during 1859, and it was depicted by Saturn in Leo sextile Uranus in Gemini. It was during this time that the Atlantic submarine cable was laid. This aspect came into force in August 1858 and pointed to a rise in business volume from the lows of the Panic of 1857. This aspect was effective throughout 1859 and indicated that business activity would reach normally. Neptune, which is one of the planetary rulers or significators, of the New York Stock Exchange, was in 28 degrees Pisces, the mid-heaven of the New York Stock Exchange Chart during 1860 and trine Jupiter in Cancer on the Ascendant of the Chart. The ascendant and mid-heaven are two of the most important angles of the Chart in relation to stock market trends and general business activity. Since this aspect was favorable, it pointed to a rise in business generally. The business curve rose five points above normal through July, 1860. This was the high point of this secondary trend as Saturn moved into Virgo August 26, 1860, and in this position was approaching a. square aspect with Uranus. This was a signal that the trend had changed and that the averages of stocks were going down and business activity with it.
This article was written by Mc Whirter in 1935.