Depression of 1893-1897
Depression of 1893-1897
- Panic of 1893
- Stock market crashed
- British call American loans and drain gold from American system
- declining farm prices and unrest
- Reading Railroad and National Cordage Company went bankrupt
- Caused 491 banks and 15,000 business fail
- 15% unemployment rate
- Jacob Coxey had the idea of sending a “living petition,” called Coxey's Army, to Congress
- wanted to get unemployed to do public works
- Coxey and his “army” arrested for tresspassing
page revision: 2, last edited: 21 Sep 2009 22:31