4 oct. 1873 - Panic of 1873

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The Panic of 1873 was a financial crisis in the United States and England that caused a depression from 1873 to 1879. Post-Civil War inflation, investments, and the demonetization of silver were all causes of the financial depression in America. Also, property losses to fires in Chicago and Boston, particularly the Great Chicago Fire, caused great financial loss and disruption in the United States. Financial failures in the Austro-Hungarian capital were the first indicator of the crisis, and by 1873, the depression had spread through Europe and into North America. Too much investment into the new railroad systems across America, which did not offer immediate results, caused a drop in the economy. When that was coupled with the Coinage Act of 1873, which changed the U.S. currency to a gold standard rather than a gold and silver standard, the economy was not at its best for the six years that the panic lasted.

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