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Panic of 1873

Panic of 1873. By: Sonia Lee. THESIS: .

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Panic of 1873

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  1. Panic of 1873 By: Sonia Lee

  2. THESIS:

  3. Questions:1. What caused the panic of 1873?2. What are different factors that affected the panic of 1873?3. Do you think if Jay Cooke’s bank had not of become bankrupt there would have not been a chain reaction of business bankruptcies? 4. How did other countries affect the economic downfall of the panic of 1873 in the US?

  4. Panic of 1873 The Panic of 1873 was caused by many different factors such as the failure of Jay Cooke & Company and the fall in demand of silver. This set off a chain reaction of bank failures such as Henry Clew’s Bank. Also, this caused the New York Stock Exchange to close temporarily. Many factories had to lay off workers, which caused unemployment rates to raise to 14% by 1876.

  5. Bibliography

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