Which U.S. president was in office when the 1907 financial panic struck?

Theodore Roosevelt was the U.S. president when the Panic of 1907 struck.

The panic began in October 1907 after an unsuccessful attempt to corner the stock of United Copper Company. Depositors and investors then withdrew money from trust companies, especially the Knickerbocker Trust Company in New York. The crisis spread through financial markets and threatened the banking system.

Roosevelt was president from 1901 to 1909. During the panic, financier J. Pierpont Morgan organized private support for endangered institutions and helped coordinate emergency lending. The episode exposed the weakness of a banking system without a U.S. central bank capable of acting as a lender of last resort.

The Panic of 1907 is often linked to the eventual creation of the Federal Reserve, but the Federal Reserve Act was not passed until 1913, during Woodrow Wilson’s presidency. The panic also encouraged reforms such as the Aldrich–Vreeland Act of 1908, which created emergency currency provisions and helped prepare the way for central-banking legislation.