Panic of 1893 (jan 1, 1893 – jan 1, 1897)
Description:
As Cleveland came into office, the stock market crashed and triggered the most severe downturn in American history to this point. It was the result of over-speculation and railroad bankruptcies. In response, Cleveland took a “hands off” approach and championed the gold standard. The economic crisis led to gains for the People’s Party.Added to timeline:
Date:
jan 1, 1893
jan 1, 1897
~ 4 years