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The Panic of 1873 originated primarily from overexpansion in the railroad industry and an ensuing financial crisis. It began when the banking firm Jay Cooke & Company, heavily invested in railroad bonds, declared bankruptcy, triggering a chain reaction of bank failures and a credit crunch. This loss of confidence led to widespread economic downturn, high unemployment, and a prolonged depression known as the Long Depression, which lasted for several years. Factors such as speculative investments and a contraction in the European economy also contributed to the crisis.
What else can I help you with?
What closed the banks in 1873?
The Panic of 1873 closed the banks.
What statement was best describes the main cause of the panic of 1873?
The Panic of 1873 began with the bankruptcy of Jay Cooke and Company. A+ Learning.
It followed the Panic of 1873?
it something that has to do with history
What statement best describes the main cause of the panic of 1873?
Jay cooke :) <=3
What statements best describes the main cause of the panic of 1873?
Jay cooke :) <=3
What closed the banks in 1873?
The Panic of 1873 closed the banks.
What closed banks in 1873?
The Panic of 1873 closed the banks.
Which statement best describes the main cause of the Panic of 1873?
The Panic of 1873 began with the bankruptcy of Jay Cooke and Company.
What hurt the republican party?
The financial panic known as Panic of 1873
What statement was best describes the main cause of the panic of 1873?
The Panic of 1873 began with the bankruptcy of Jay Cooke and Company. A+ Learning.
It followed the Panic of 1873?
it something that has to do with history
Was the panic of 1873 blamed on the republicans?
yes
What year did the collie originate?
1873
In what year did new years originate?
1873
What industry employed the most workers in the Panic of 1873?
As the Panic of 1873 began to unfold, railroad companies employed the most people. Approximately 2 million jobs were in the railroad industry.
What resulted from the panic of 1873?
Economic problems and depression around the world
What result from the panic of 1874?
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.
