panic of 1893 (jul 1, 1893 – sep 18, 1897)
Description:
The panic of 1893 in silver mining states was tied to the abrupt collapse of silver after the past two decades had explosive growth. The depression also hurt farmers in silver mining states that fed the people working in mines when the mines closed. In July of 1893 45,00 Coloradans were out of work, banks closed, and railroads were on the edge of bankruptcy. by 1894 unemployment was up to 12.3% and didn't drop below 10% until 1899.Added to timeline:
Date:
jul 1, 1893
sep 18, 1897
~ 4 years and 2 months