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A chain reaction to bank failures temporarily closed the New York Stock Exchange. There were massive layoffs in factories and the US slipped into depression. A great many of the nation's railroads failed and went bankrupt. This resulted in a railroad strike due to wage cuts. The Republican party drew the most ire for the failure and Democrats came into power.
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What caused the panic of 1873?
investors took on more debt than they can afford.
What was significance of panic of 1873?
It was a financial crisis leading to the so-called 'long depression', which in the US was caused by a sharp drop in the demand for and price of silver caused by Germany exchanging the Silver Standard for the Gold Standard. In the same year occurred the failure of the major US bank of Jay Cook & Company, which triggered the failure of a great number of other US banks.In Europe the sharp drop in the price of silver was one of the main reasons for the collapse of the Vienna Stock Market in 1873, which caused a sharp downturn on other European stock markets. In Europe however the following depression was less severe and shorter-lived than the one in the US, which was to last until 1879.The Panic of 1873 was a financial crisis that triggered a depression in Europe and North America that lasted from 1873until 1879.
How does Dien Bien Phu Falls effect the cold war?
The Americans become even more determined to stop the spread of communism by touting "The Domino Theory" where when one nation falls to communism so too the next nation .
What was the result of Japanese aggression during the 1930's?
its lyndes hw isn't it. They were able to carry out aggressive territorial policies because of the charismatic effect of each nation's leader
What is the significance of the Comstock Act of 1873?
The Comstock Act of 1873 prohibited the sale of items that could be used for abortion or birth control. This law also made it illegal for doctors to perform abortions.
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.
When was Panic Nation created?
Panic Nation was created in 2006.
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 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.
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 .
