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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.
The nationwide depression known as the Panic of 1893 began in January 1893, and company president and politician Charles Foster filed for personal bankruptcy a few months later. The company merged with the Pittsburgh-based company Wallace & McAfee near the end of 1893, and the combined company was called Consolidated Lamp and Glass Company ...
Coxey's Army marchers leaving their camp. Coxey's Army was a protest march by unemployed workers from the United States, led by Ohio businessman Jacob Coxey.They marched on Washington, D.C., in 1894, the second year of a four-year economic depression that was the worst in United States history at the time.
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]
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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.
On this day in economic and business history ... 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 ...
The economic Panic of 1893 had left the nation in a deep recession, which still persisted in early 1896. Bryan and many other Democrats believed the economic malaise could be remedied through a return to bimetallism , or free silver —a policy they believed would inflate the currency and make it easier for debtors to repay loans.