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.

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.

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."

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.

The 19th century agricultural market was subject to major price swings and recessions. The image above is panic in a town due to a recession. During these times women were more heavily relied upon to earn income for the household through market production of butter. #panic #recession

One of Forbes Best Articles: A Financial Bunker for Scary Times - Money Uncensored

1873 PRINT MONEY MARKET PANIC IN AMERICA : SCENE AT SAN FRANCISCO STOCK EXCHANGE

1873 PRINT MONEY MARKET PANIC IN AMERICA : SCENE AT SAN FRANCISCO STOCK EXCHANGE

In 1873, A Railroad Panic Hits the NYSE:

In 1873, A Railroad Panic Hits the NYSE:

A cartoon of a giant figure named "Panic" clearing garbage on Wall Street, 1873.

A cartoon of a giant figure named "Panic" clearing garbage on Wall Street,

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