Panic of 1873 (1 sept. 1873 – 1 mars 1879)
Description:
The Panic of 1873 was a major financial crisis triggered by the collapse of the Jay Cooke & Company bank, which had heavily invested in railroad construction. This led to a stock market crash, bank failures, and widespread unemployment. The panic resulted in a depression that lasted for several years, severely impacting the economy and contributing to labor unrest and political shifts, including the rise of the Greenback movement advocating for inflationary monetary policies.Ajouté au bande de temps:
Date:
1 sept. 1873
1 mars 1879
~ 5 years and 5 months