jan 1, 1873 - Panic of 1873

Description:

The Panic of 1873 was a severe nationwide economic depression in the United States that began with the financial failure of the Philadelphia banking firm Jay Cooke and Company, which had heavily invested in railroad construction. The panic triggered a six-year economic depression characterized by bank failures, widespread unemployment, and the collapse of many businesses, profoundly affecting both industrial and agrarian communities across the country.

Added to timeline:

Date: