Panic of 1893

E8756

economic depression financial panic historical event

The Panic of 1893 was a severe nationwide economic depression in the United States marked by bank failures, railroad bankruptcies, and mass unemployment that helped bring the Gilded Age to a close.

Statements (48)

Predicate	Object
instanceOf	economic depression → financial panic → historical event →
country	United States →
describedBySource	U.S. economic history textbooks →
endTime	late 1890s →
followedBy	economic recovery in the late 1890s →
hasCause	collapse of railroad overbuilding and shaky railroad financing → concerns about the U.S. commitment to the gold standard → declining European investment in the United States → falling U.S. gold reserves → speculation in railroads → the Sherman Silver Purchase Act of 1890 →
hasEffect	Coxey's Army march of 1894 → Democratic Party losses in subsequent elections → Pullman Strike of 1894 → bank failures across the United States → business failures → context for the presidential election of 1896 → decline in confidence in major financial institutions → end of the Gilded Age era → expansion of federal government involvement in the economy → falling farm prices → increased support for monetary reform → labor unrest → mass unemployment → political realignment in the United States → pressure on President Grover Cleveland's administration → railroad bankruptcies → rise of the free silver movement → strengthening of the Populist movement → widespread poverty →
location	Chicago → New York City financial markets → Philadelphia → southern United States → western United States →
mainVictim	banking sector in the United States → farmers → industrial workers → railroad industry in the United States →
partOf	history of capitalism in the United States → history of the Gilded Age →
precededBy	Panic of 1873 →
significantPerson	Grover Cleveland → J. P. Morgan → William Jennings Bryan →
startTime	1893 →

Referenced by (4)

Subject (surface form when different)	Predicate
Sherman Silver Purchase Act of 1890 →	associatedWithEvent
Sherman Silver Purchase Act of 1890 →	consideredCauseOf
Coxey's Army march of 1894 →	hasCause
Gilded Age →	majorEvent