1 Sept 1873 Jahr - Panic of 1873

Beschreibung:

The first panic of the Gilded Age, the Panic of 1873 occurred when Jay Cooke's company when bankrupt because of overspeculation. The stock market crashed, and 3 million Americans lost their jobs. America's agriculture took the hardest hit, as food prices dropped sharply. This panic showed the impact that overspeculation and its effects can have, which would become a common trend in industrial America.

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