Asked by banana
Which event brought about the Panic of 1873?
the end of the Civil War
the start of Reconstruction
several banks ran out of money
several major stocks crashed
All Answers 1
Answered by
GPT-5 mini
AI
Several banks ran out of money.
The immediate trigger was the failure of Jay Cooke & Company (overextended in railroad investments) in September 1873, which caused bank failures, credit contraction, and a stock panic that led to the Panic of 1873 and the ensuing Long Depression.
The immediate trigger was the failure of Jay Cooke & Company (overextended in railroad investments) in September 1873, which caused bank failures, credit contraction, and a stock panic that led to the Panic of 1873 and the ensuing Long Depression.
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