The Panic of 1873 was a financial crisis that triggered an economic depression in Europe and North America that lasted from 1873 to 1877 or 1879 in France and in Britain. In Britain, the Panic started two decades of stagnation known as the "Long Depression" that weakened the country's economic leadership. [1]

After the Civil War, the US banking system grew rapidly and seemed to be set on solid ground. But the country was hit by many banking crises. One of the worst happened in 1873 – during the time of the Freedman’s Bank. The panic started with a …

2024年2月21日 · The Panic of 1873 was an economic collapse triggered by the bankruptcy of Jay Cooke and Company, which plunged the United States into a four-year depression. This economic crisis resulted in widespread bankruptcies, …

The Panic of 1873, which began with financial crises in Vienna in June and in New York City in September, marked the end of the long-term expansion in the world economy that had begun in the late 1840s.

When the banking firm of Jay Cooke and Company, a firm heavily invested in railroad construction, closed its doors on September 18, 1873, a major economic panic swept the nation.

The Panic of 1873 stands as the first global depression brought about by industrial capitalism. It began a regular pattern of boom and bust cycles that distinguish our current economic system and which continue to this day.

The panic of 1873 came as a result of both national and international economic problems. During and after the Civil War, the United States began selling government bonds to European investors. This created much-needed capital inflow into America.

The Panic of 1873 began on September 18 with the failure of the Philadelphia investment house of Jay Cooke. Cooke had played a large role in financing the Union war effort by marketing federal bonds to farmers and workers.

The Panic of 1873 was a financial crisis that started an economic depression in Europe and North America. It lasted from 1873 until 1877, and it went even longer in France and Britain. In Britain, for example, it started two decades of stagnation known as the "Long Depression". This weakened the country's economic leadership. [1] .

The Panic of 1873 originated in the rapid expansion of the American securities market in response to the capital demands of the war effort and railway development. Many small investors got their first taste of the securities market while buying bonds floated to finance the U. S. Civil War.