#General features of a crisis.# Altho irregular in time of occurrence and unlike in their immediate occasions, financial crises show certain general features.

They are a part of the larger movement here outlined as the business cycle.

Some have thought this cycle to be normally a period of ten years, divided into one year of crisis, three years of depression, three years of recovery, and three years of unusual prosperity.

This succession of events occurs pretty regularly, though not in the regular intervals of time.

Crises are more severe in countries with more extensive use of money and credit, but still more severe where the credit system is more loosely administered and less efficiently cooerdinated.