Panic of 1893
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High Quality Content by WIKIPEDIA articles! The 1880s had been a period of remarkable economic expansion in the United States. In time, the expansion became driven by speculation, much like the tech bubble of the late 1990s and the housing bubble of the early 21st century, except that the associated industry was railroads. Railroads were vastly over-built (and fortunes were made[2]), and many companies tried to take over others, seriously endangering their own stability. In addition, many mines were opened (frequently with rail connections), and their products, especially silver, began to floo...
High Quality Content by WIKIPEDIA articles! The 1880s had been a period of remarkable economic expansion in the United States. In time, the expansion became driven by speculation, much like the tech bubble of the late 1990s and the housing bubble of the early 21st century, except that the associated industry was railroads. Railroads were vastly over-built (and fortunes were made[2]), and many companies tried to take over others, seriously endangering their own stability. In addition, many mines were opened (frequently with rail connections), and their products, especially silver, began to flood the market. Farmers, particularly in the Midwest, suffered a series of droughts which left them short of cash to pay their debts, which drove down the value of their land.
