A chain reaction to bank failures temporarily closed the New York Stock Exchange. There were massive layoffs in factories and the US slipped into depression. A great many of the nation's railroads failed and went bankrupt. This resulted in a railroad strike due to wage cuts. The Republican party drew the most ire for the failure and Democrats came into power.
It lead to Martin van "Ruin" being a 1 term president. It also encouraged expansion. The south was not much effected and bailed(get it?) the northern states out by selling cotton and lending it to the north.
The panic of 1873 and the ensuing depression reinforced the perception of the necessity of the gold standard. This was a time of post civil war reconstruction and industrial growth, along with the advances met by the expansion of the railroad.
the panic of 1837 boot raped the nations economy!! :D
investors took on more debt than they can afford.
It was a financial crisis leading to the so-called 'long depression', which in the US was caused by a sharp drop in the demand for and price of silver caused by Germany exchanging the Silver Standard for the Gold Standard. In the same year occurred the failure of the major US bank of Jay Cook & Company, which triggered the failure of a great number of other US banks.In Europe the sharp drop in the price of silver was one of the main reasons for the collapse of the Vienna Stock Market in 1873, which caused a sharp downturn on other European stock markets. In Europe however the following depression was less severe and shorter-lived than the one in the US, which was to last until 1879.The Panic of 1873 was a financial crisis that triggered a depression in Europe and North America that lasted from 1873until 1879.
The Americans become even more determined to stop the spread of communism by touting "The Domino Theory" where when one nation falls to communism so too the next nation .
The Comstock Act of 1873 prohibited the sale of items that could be used for abortion or birth control. This law also made it illegal for doctors to perform abortions.
its lyndes hw isn't it. They were able to carry out aggressive territorial policies because of the charismatic effect of each nation's leader
The Panic of 1873 closed the banks.
The Panic of 1873 closed the banks.
The Panic of 1873 began with the bankruptcy of Jay Cooke and Company.
The financial panic known as Panic of 1873
The Panic of 1873 began with the bankruptcy of Jay Cooke and Company. A+ Learning.
yes
it something that has to do with history
Panic Nation was created in 2006.
As the Panic of 1873 began to unfold, railroad companies employed the most people. Approximately 2 million jobs were in the railroad industry.
Economic problems and depression around the world
The things that happened after the panic of 1873 were the downfall of the Jay Cooke and Company in September 1973, and the Coinage act of 1873. Another thing that happened was the Great Railroad Strike in 1877.
The Panic of 1873 caused an economic depression in the 1870s because banksacross the land closed .