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In 1873, greed, speculation and overinvestment in railroads sparked a financial crisis that sank the US into more than five years of misery

Posted by spit-evil-olive-tips
Tags: 19th century, usa, finance, economics, panic of 1873, robber barons, transport, railways, speculation, investing, financial crisis, author.mickey butts, source.smithsonian
https://www.smithsonianmag.com/history/robber-baron-gamble-railroads-brought-down-bank-plunged-us-into-first-great-depression-panic-1873-180982877/

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Title
How One Robber Baron's Gamble on Railroads Brought Down His Bank and Plunged the U.S. Into the First Great Depression
Authors
Mickey Butts
Word count
1269 words

1 comment

  1. spit-evil-olive-tips
    Link
    archive link wikipedia article with background on the Panic of 1873:

    archive link

    wikipedia article with background on the Panic of 1873:

    In the United States, the Panic was known as the "Great Depression" until the events of 1929 and the early 1930s set a new standard.

    1 vote