#the5: Crisis Chronicles: The Long Depression and the Panic of 1873:

Crisis Chronicles: The Long Depression and the Panic of 1873 - The Big Picture

The Long Depression, 1873-1879 was the first truly international economic crisis. The New York stock exchange closed for 10 days in September 1873 and was caused by a tight monetary policy instituted at the end of the Civil War in an effort to get back on the gold standard.

panic, B. A condition of widespread apprehension in relation to financial and commercial matters, leading to hasty measures to secure against possible loss.

Panic of 1873 | Teachinghistory.org

Panic of 1873

Railroads were the nation's largest non-agricultural employer in 1873. The nation's first transcontinental railroad had been completed in 1869. Northern Pacific was to be the second. The nation's largest bank, Jay Cooke & Company, was the financier. On September 18, 1873 the firm realized it had overextended and declared bankruptcy. Since Cooke also handled most of the government's wartime loans, its failure caused the economy to instantly sputter and then collapse.

The Great Financial Panic of 1873 - Closing the door of the Stock Exchange on its members, Saturday, Sept.

In 1873, A Railroad Panic Hits the NYSE:

In 1873, A Railroad Panic Hits the NYSE:

During Rutherford B. Hayes's administration the economy turned around (following the Panic of 1873).  President Hayes wrote in his diary-- "I can say in truth-- I left this great country prosperous and happy and the party of my choice strong, victorious, and united.  In serving the country I served the party."

During Rutherford B. Hayes's administration the economy turned around (following the Panic of 1873). President Hayes wrote in his diary-- "I can say in truth-- I left this great country prosperous and happy and the party of my choice strong, victorious, and united. In serving the country I served the party."

Crisis Chronicles: The Long Depression And The Panic Of 1873

Camden and Amboy Railroad's John Stevens roamed the tracks. Several sister locomotives based on the same English design were built

Financial Panics of the 19th Century: Panic of 1873 Depicted in Magazine Illustration/Library of Congress

How Periodic Financial Panics Rocked the American Economy In the 1800s

Financial Panics of the Century: Panic of 1873 Depicted in Magazine Illustration/Library of Congress

Déjà Vu: the Panic of 1873

Déjà Vu: the Panic of 1873

This Harper’s Weekly illustration of Wall Street after the Panic of 1873 shows President Grant helping America, depicted as the woman on the right, escape from urban rubble.

Bulls and Bears: The Great Wall Street Gameboard 1883 McLoughlin Bros.

Inspired by the financial panic of McLoughlin Bros released a board game called Bulls and the Bears in This is one of the rarest of all nineteenth century American board games.

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