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The Panic of 1873 was a financial crisis triggered by the collapse of the banking firm Jay Cooke & Company, which heavily invested in railroads. This event led to widespread bank failures, a Stock Market crash, and a severe economic depression that lasted for several years. Unemployment soared, and many businesses went bankrupt, ultimately contributing to a significant shift in economic policy and debates over the gold standard versus the use of silver. The crisis highlighted vulnerabilities in the burgeoning industrial economy and led to increased regulation in the financial sector.
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
The panic of 1873 resulted in?
The Panic of 1873 resulted in a severe economic depression that lasted for several years, particularly affecting the United States and Europe. It was triggered by the collapse of the investment bank Jay Cooke & Company, which had heavily invested in railroads. The ensuing financial crisis led to widespread bank failures, high unemployment, and a significant contraction in economic activity, ultimately contributing to a lengthy period of economic stagnation known as the Long Depression. This crisis also highlighted the vulnerabilities in the banking system and the speculative nature of railroad investments at the time.
What statement best describes the main cause of the panic of 1873?
Jay cooke :) <=3
What resulted from the panic of 1873?
Economic problems and depression around the world
What resulted from the panic 1873?
economic problems and depression around the world (apex)
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 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 in the defeat of the Conservatives in 1873?
The Pacific Scandal.
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.
