Actually, some of us do, and some of us study it rather more widely than the US - which is actually regarded as having one of the world's more dubious banking systems during the 19th century.
Some of us would also make the claim that the reason the European banking system was also bouncing up and down like a yo-yo in the 19th, was that the American system kept crashing it (cascade failure.)
Canada's branch banking system was quite different to that used in America, and probably played a part in the relative stability. It probably also helped that during that period Canada was a big exporter, and was to some extent protected by the Sterling zone. However the British banking system was also suffering from periodic crashes during this period.. so it's unwise to get too carried away with that analysis.
Great. So we are in agreement. 19th century banking was not 'like a yoyo' it depended on lots of factors and was the opposite of a yoyo in some places.
The US history of banking is really a fucking mess. Its a travesty.
This is a fun little podcast about banking history in the US:
Some of us would also make the claim that the reason the European banking system was also bouncing up and down like a yo-yo in the 19th, was that the American system kept crashing it (cascade failure.)
Canada's branch banking system was quite different to that used in America, and probably played a part in the relative stability. It probably also helped that during that period Canada was a big exporter, and was to some extent protected by the Sterling zone. However the British banking system was also suffering from periodic crashes during this period.. so it's unwise to get too carried away with that analysis.