jul 1, 1893 - Depression Politics: Panic of 1893

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The panic of 1893 was caused by the stock market crash from overspeculation. Several do airports went bankrupt from overbuilding and foreclosures for farmers increased. Many people started relying on soup kitchens and house day started living in homeless life. President Cleveland responded to the situation by setting the gold standard to a high esteem and adopted a hands-off policy for the economy.

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