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TeachMeFinance.com - explain Grant and Ward panic historic definition... Grant and Ward panic -- So called because it had its inception in the failure on May 6, 1884, of the banking and stock brokerage firm of Grant & Ward, of which ex-President U. S. Grant was senior partner. The failure of the Marine Bank, the Metropolitan Bank and many stock brokers followed. Great dishonesty was disclosed in the affairs of Grant & Ward and the Marine Bank. Ex-President Grant was not involved, but his partner, Ferdinand Ward, and James D. Fish, who was president of the Marine Bank, were sent to prison for their part in the irregularities. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.