The 1792 financial panic in the United States was the Panic of 1792.
The crisis developed after extensive speculation in government securities and bank shares. Alexander Macomb, a prominent merchant, borrowed heavily to speculate in public lands and securities, then defaulted when prices fell. The resulting selling pressure spread through New York’s financial market.
Treasury Secretary Alexander Hamilton responded by using federal funds to buy securities and restore confidence. He also encouraged banks to provide liquidity. These actions helped stabilize markets and are often viewed as an early example of a central-government response to a financial panic.
The Panic of 1792 is sometimes confused with the later Panic of 1819, which was the first major financial crisis of the United States. The 1792 episode occurred only a few years after the creation of the U.S. federal government and helped establish precedents for financial stabilization.