The Bank Crash of 1894 called Black Monday was one of the turning points in Newfoundland's early history that added to the financial woes of the former British colony when two of the commercial banks of Newfoundland, the Union Bank (established in 1854) and the Commercial Bank (established in 1858), both located in St. John's, Newfoundland, Canada, had closed their doors to the public on December 10, 1894.
