Crash of 1873, Jay Cooke & Company, a huge finance house of the day, and one of the main backers of the Union side in the Civil War. 1873 was a traumatic year for the global economy. The trouble started in Vienna, with the collapse of market that had been pumped up by a wave of speculative money, then rapidly spread out across the world. It was in many ways the first of the great global financial panics, of the sort we are so depressingly familiar with today. And it was the start of what…

Crash of 1873, Jay Cooke & Company, a huge finance house of the day, and one of the main backers of the Union side in the Civil War. 1873 was a traumatic year for the global economy. The trouble started in Vienna, with the collapse of market that had been pumped up by a wave of speculative money, then rapidly spread out across the world. It was in many ways the first of the great global financial panics, of the sort we are so depressingly familiar with today. And it was the start of what…

History of the NYSE: Growth and Panic 1873

History of the NYSE: Growth and Panic 1873

Crisis Chronicles: The Long Depression And The Panic Of 1873

Crisis Chronicles: The Long Depression And The Panic Of 1873

Panic of 1873 | Teachinghistory.org

Panic of 1873 | Teachinghistory.org

Pneumatic Elevated Railway – 1880 –  Henry Gilbert’s design was a hybrid of Alfred Beach’s air-powered underground and Charles T Harvey’s cable-powered elevated railway. Passengers would be moved through a double row of ‘atmospheric tubes’ suspended from wrought-iron Gothic arches, held on slender Corinthian columns. The Wall Street Panic of 1873 killed Gilbert’s untested scheme.

Never built New York: the city that might have been – in pictures

Pneumatic Elevated Railway – 1880 – Henry Gilbert’s design was a hybrid of Alfred Beach’s air-powered underground and Charles T Harvey’s cable-powered elevated railway. Passengers would be moved through a double row of ‘atmospheric tubes’ suspended from wrought-iron Gothic arches, held on slender Corinthian columns. The Wall Street Panic of 1873 killed Gilbert’s untested scheme.

During Rutherford B. Hayes's administration the economy turned around (following the Panic of 1873).  President Hayes wrote in his diary-- "I can say in truth-- I left this great country prosperous and happy and the party of my choice strong, victorious, and united.  In serving the country I served the party."

During Rutherford B. Hayes's administration the economy turned around (following the Panic of 1873). President Hayes wrote in his diary-- "I can say in truth-- I left this great country prosperous and happy and the party of my choice strong, victorious, and united. In serving the country I served the party."

Panic of 1873 - Wikipedia

Panic of 1873 - Wikipedia

Financial Panics of the 19th Century: Panic of 1873 Depicted in Magazine Illustration/Library of Congress

How Periodic Financial Panics Rocked the American Economy In the 1800s

Financial Panics of the 19th Century: Panic of 1873 Depicted in Magazine Illustration/Library of Congress

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