panic of 1873 (2 janv. 1873 – 8 avr. 1877)
Description:
the panic started in Europe when the stock market crashed and the Europeans sold their railroad bonds and more bonds were for sale than anyone wanted. railroad companies could no longer find people to lend them cash and most railroad companies went bankrupt. the banks that invested in the railroads heavily went bankrupt as well. when they saw the banks closing the people rushed to the bank and demanded all their money back.Ajouté au bande de temps:
Date:
2 janv. 1873
8 avr. 1877
~ 4 years and 3 months