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The Panic of 1873 closed the banks.
The Panic of 1873 began with the bankruptcy of Jay Cooke and Company. A+ Learning.
Jay cooke :) <=3
Jay cooke :) <=3
Democrats were able to take over a majority in Congress thanks to the prevailing distrust of Americans toward the Republican Party, since Grant was a member of the Republican Party, and were able to enact regulations involving speculation that could prevent another financial panic. New oversight, rebuilding the railroad industry, and new investments in the economy eventually ended the financial depression of the 1870s.