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The crash led to a recession which lasted until the end of the decade Immediately after the crash, the bank’s founder accused that its downfall was caused by Jewish-German banks and Freemasons vying to destroy growing financial institutions that backed conservative Catholic political agendas. It is now generally accepted that there was no conspiracy to destroy the bank, however, it remains unclear why the collapse of the bank was so devastating.
During the 1882 crash, 14 of 60 stock brokers appeared to be in imminent danger of failure and 7 were completely bankrupt. The famous painter Paul Gauguin had been working as a stock broker until the crash, after that, he decided to dedicate to painting full-time.
Read more about this topic: Paris Bourse Crash Of 1882