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Crash of the Titans: Copper and Ice Speculation Leads to the Panic of 1907 and the Creation of the U.S. Federal Reserve System
Ice is a remarkable substance, solid yet transparent, alternately useful and vexatious in cold climates, marvelous in tropical ones, made of water yet it floats. The arrival of ice in Calcutta, India, caused a sensation, in 1833 when Frederic Tudor shipped his first cargo of ice from Boston to that place. Natives there speculated that perhaps ice grew on trees and were keen to learn how they could cultivate some. At first Tudor gave his ice away on the basis...
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