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The Panic of 1893 was an economic depression in the United States. It began in February 1893 and officially ended eight months later, but the effects from it continued to be felt until 1897. [ 1 ] It was the most serious economic depression in history until the Great Depression of the 1930s.
1893: The Panic of 1893 set off a widespread economic depression in the United States of America that lasts until 1897. One of the first signs of trouble was the bankruptcy of the Philadelphia and Reading Railroad , which had greatly over-extended itself, on February 23, 1893, [ 51 ] ten days before Grover Cleveland 's second inauguration. [ 52 ]
The American Civil War ended in April 1865, and the country entered a lengthy period of general deflation that lasted until 1896. The United States occasionally experienced periods of recession during the Reconstruction Era. Production increased in the years following the Civil War, but the country still had financial difficulties. [19]
Jennie Curtis who lived in Pullman was president of seamstress union ARU LOCAL 269 gave a speech at the ARU convention urging people to strike. [2] [3] As the Panic of 1893 weakened much of the economy, railroad companies ceased purchasing new passenger cars made by Pullman. The company laid off workers and reduced the wages of retained workers.
May 1 – The 1893 World's Fair, also known as the World's Columbian Exposition, opens to the public in Chicago, Illinois. The first U.S. commemorative postage stamps and Coins are issued for the Exposition. Pabst Blue Ribbon wins an award for the best beer. [1] May 5 – Panic of 1893: A crash on the New York Stock Exchange starts a depression.
The Great Depression was the worst economic crisis in US history. More than 15 million Americans were left jobless and unemployment reached 25%. 25 vintage photos show how desperate and desolate ...
You know, there have been so many errors -- in some cases they've been deliberate distortions -- about the impact of President Franklin D. Roosevelt's innovative New Deal policies on the U.S ...
With the Coinage Act of 1873, bimetallism was disestablished by Congress and gold was established as the standard.Despite this, the city of Denver, Colorado enjoyed boomtown growth during the late 19th century after the discovery and development of numerous silver mines and the passage of first the Bland–Allison Act of 1878 and then the Sherman Silver Purchase Act of 1890, both of which ...