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The Panic of 1873 led to a severe economic depression in the United States and Europe, lasting for several years. Triggered by the collapse of the banking firm Jay Cooke & Company, it resulted in widespread bank failures, business closures, and high unemployment rates. The crisis also caused a shift in economic policy, with debates over the gold standard and currency reform becoming prominent. Overall, it marked a significant turning point in the U.S. economy, highlighting vulnerabilities in the financial system.
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 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.
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 was Panic of 1873?
The Panic of 1873 was when the E.W. Clark & Company bank (one of the biggest private banks) went bankrupt. As a result, it caused a chain-reaction of other bank failures and even a ten-day closing of the NYSE (New York Stock Exchange) starting September 20th.
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 problems did the economic depression cause in 1873?
The Panic of 1873 caused an economic depression in the 1870s because banksacross the land closed .
