Depression of 1873 (sep 18, 1873 – feb 8, 1879)
Description:
Also known as the panic of 1873, it was a financial crisis that triggered a depression in Europe and North America. The Depression led many Americans to lose their fortune. The New York Stock Exchange was closed for 10 days. Credit dried up, foreclosures were common and banks failed. Factories closed their doors, costing thousands of workers' jobs. Most of the major railroads failed. It also led to bitter antagonism between workers and the leaders of banking and manufacturing. This tension would erupt into the labor unrest that marked the following decades.
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Unit 6 Timeline Brandon Carpenter Period 2
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