The Panic of 1873 was the worst depression the US had ever experienced. The economic downturn began with an overheated railroad finance market. An investment banking firm, Jay Cook & Company had financed construction for a second transcontinental railroad, the Northern Pacific. The project began in 1870. The contraction of the money supply with the return to the gold standard and the retirement of the dollars issued during the US Civil War tightened money markets. When the Northern Pacific required an new cash infusion in 1873, the Jay Cook firm failed to raise the $300 million it required. Cook had tried to float a bond issue for this large sum. This caused his company to collapse and triggered the collapse of other banks as loans they called in failed to happen. This began the Panic of 1873.
It Occured on May 10, 1837
in all likelihood you're thinking of the panic of 1837.
will the panic of 1837 ended in 1840 around that year
Depression
What do you think Van Buren could have done to ease the panic of 1837?Read more: What_do_you_think_Van_Buren_could_have_done_to_ease_the_panic_of_1837
It Occured on May 10, 1837
Panic of 1837
in all likelihood you're thinking of the panic of 1837.
will the panic of 1837 ended in 1840 around that year
the panic of 1837 affected the nations economy by entering an economic depression where the business and unemployment fell to a very low level.
Depression
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panic of 1837
The direct cause of the Panic of 1837 was the vetoing of the Bank Bull by president Andrew Jackson. This was a serious financial crisis in the United States.
What do you think Van Buren could have done to ease the panic of 1837?Read more: What_do_you_think_Van_Buren_could_have_done_to_ease_the_panic_of_1837
contributed to the great depression It contributed to the depression of 1837.
economic crises in Great Britain