what caused the panic of 1893?

Answer 1

the non panic of 1892

Answer 2

What Caused The Panic Of 1893

Answer 3

The Panic of 1893 was a serious decline in the economy of the United States that began in 1893 and was precipitated in part by a run on the gold supply.

The Panic was the worst economic crisis to hit the nation in its history to that point. Economic historians are not certain what caused it but point to several possible factors. First, too many people attempted to redeem silver notes for gold; ultimately the statutory limit for the minimum amount of gold in federal reserves was reached and U.S. Notes could no longer be successfully redeemed for gold. Next, the Philadelphia and Reading Railroad went bankrupt. Then, the National Cordage Company (the most actively traded stock at the time) went into receivership as a result of its bankers calling their loans in response to rumors regarding the NCC's financial distress. A series of bank failures followed, and the price of silver fell. The Northern Pacific Railway, the Union Pacific Railroad and the Atchison, Topeka & Santa Fe Railroad all failed. This was followed by the bankruptcy of many other companies; in total over 15,000 companies and 500 banks failed (many in the west). About 12%-18% of the workforce was unemployed at the Panic's peak.

Answer 4

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RE:
what caused the panic of 1893?

Answer 5

The Panic of 1893 was caused by railroad overbuilding and shaky railroad financing which set off a series of bank failures. Simple as dat.

Answer 6

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Answer 7

Then, was when the money was tight and then all the train stations were forced to close or something.