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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.
From the depression of 1920–1921 until the Great Depression, an era dubbed the Roaring Twenties, the economy was generally expanding. Industrial production declined in 1923–24, but on the whole this was a mild recession. [26] [34] [35] [36] 1926–1927 recession October 1926 – November 1927 1 year 1 month
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]
In 1897 the economy rapidly recovered from the severe depression, called the Panic of 1893. McKinley's supporters in 1900 postulated that the new tariff and the commitment to the gold standard were responsible. McKinley is consistently ranked by political historians in the upper tier of United States presidents. On William McKinley, historian ...
“Thanksgiving Day, 1893, dawned clear and bright after a night that was cold enough to freeze a quarter inch of ice over the water bucket on the back bench.” Caprock Chronicles: Thanksgiving ...
Five people died, 4,000 were left homeless, and property damages were estimated at $2.5 million. [14] Now the wreckage of a shed or outhouse would move by, followed by a drowned swine or other livestock. The construction forces of the Texas & Pacific worked feverishly to safeguard the long trestle carrying their tracks across the stream.
In most respects, April 28, 1942, was much like any other day of the Great Depression era for American markets. "The stock market lacked buying confidence today and leading issues retreated
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.