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sep 1, 1873 - Panic of 1873

Description:

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.

Added to timeline:

Lead Up to the Great Depression

ByJohn Rivers
11 months ago
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Date:

sep 1, 1873
Now
~ 151 years ago
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