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Topic: Panic of 1893


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  Panic of 1893 - Wikipedia, the free encyclopedia
The Panic of 1893 was a serious decline in the economy of the United States that began in 1893 and was precipitated in part by a run on the gold supply.
The Panic was the worst financial crisis to hit the United States in its history to that point, and occurred upon the concurrence of several events.
β€œAn Analysis of the Phenomena of the Panic in the United States in 1893.” Quarterly Journal of Economics 8 (January 1894): 117–48.
en.wikipedia.org /wiki/Panic_of_1893   (731 words)

  
 Connecticut's Heritage Gateway   (Site not responding. Last check: 2007-10-21)
The Panic of 1893 and the APA in Connecticut
The Panic of 1893 was one of those periodic, nineteenth-century economic downturns, similar to those in 1819, 1837, 1857, and 1873, that had a crushing impact upon American business activity.
The particular root of the 1893 collapse was the failure in November 1890 of the British banking house of Baring Brothers.
www.ctheritage.org /test/encyclopedia/ct1865_1929/panic_1893.htm   (693 words)

  
 EH.Net Encyclopedia: Depression of 1893
The Depression of 1893 was one of the worst in American history with the unemployment rate exceeding ten percent for half a decade.
It was accompanied by violent strikes, the climax of the Populist and free silver political crusades, the creation of a new political balance, the continuing transformation of the country's economy, major changes in national policy, and far-reaching social and intellectual developments.
The financial crises of 1893 accelerated the recession that was evident early in the year into a major contraction that spread throughout the economy.
www.eh.net /encyclopedia/article/whitten.panic.1893   (3501 words)

  
 Panic of 1819
The Panic of 1819 was the first major financial crisis[?] in the United States.
The primary cause of the Panic of 1819 was likely the credit tightening instituted by the directors of the Second Bank of the United States, who were skeptical of the risky lending policies practiced by the new wildcat banks in the West.
Panic of 1819: Reactions and Policies (http://www.mises.org/rothbard/panic1819.pdf) - by Murray N. Rothbard (in PDF format).
www.ebroadcast.com.au /lookup/encyclopedia/pa/Panic_of_1819.html   (273 words)

  
 Panic of 1893
The Panic of 1893 was a financial crisis that hit the United States upon the concurrence of several events.
First, too many people attempted to redeem notes for gold, ultimately the statutory limit for the maximum amount of gold in federal reserves was reached and gold could no longer be successfully redeemed.
Panic of 1819 -- Panic of 1837 -- Panic of 1857[?] -- Panic of 1873
www.ebroadcast.com.au /lookup/encyclopedia/pa/Panic_of_1893.html   (263 words)

  
 GREAT EPOCHS IN AMERICAN HISTORY
The intent of this expedient, never adopted since the panic of 1893, was to help out hard-prest banks through loan of the cash resources of their neighbors; but its result, in 1907, as in 1893, was to bring about general suspension of cash payments in the Clearing-House.
Before the panic of 1907 was over the New York banks had $88,420,000 of such loan certificates in use, as against a maximum of $38,280,000 in the panic of 1893, and the loan certificates remained in use during twenty-two weeks, as against only nineteen weeks' duration in the earlier panic.
The panic of 1907 was unlike the panic of 1893, which followed a period of uncertainty and misgiving, leading to acquiescence, on the part of the community at large, in the certainty of prolonged reaction and depression.
www.usgennet.org /usa/topic/preservation/epochs/vol10/pg193.htm   (1779 words)

  
 GREAT EPOCHS IN AMERICAN HISTORY
Panic is in its nature unreasoning; therefore, altho the financial fright of 1893 arose from fear of depreciation of the legal tenders, the first act of frightened bank depositors was to withdraw these very legal tenders from their banks.
Instinct led them, therefore, when the same financial weather-signs were visible in 1893, to get their money out of the banks and into their own possession with the least possible delay, and as a rule the legal tenders were the only form of money which they were in the habit of using.
The ruin resulting in the seaboard cities from the panic of 1893 was undoubtedly less severe than that of twenty years before.
www.usgennet.org /usa/topic/preservation/epochs/vol10/pg73.htm   (2004 words)

  
 1893 - Wikipedia, the free encyclopedia
May 1 - The 1893 World's Fair, also known as the World's Columbian Exposition, opens to the public in Chicago, Illinois, USA.
May 5 - Panic of 1893: Crash on the New York Stock Exchange starts a depression.
October 30 - The 1893 World's Fair, also known as the World's Columbian Exposition, closes.
en.wikipedia.org /wiki/1893   (1212 words)

  
 Grover Cleveland's 1st Annual Message (of his 2nd administration) to Congress - 1893
On the 1st day of November, 1893, the amount of money of all kinds in circulation, or not included in Treasury holdings, was $1,718,544,682, an increase for the year of $112,404,947.
It is estimated that on the 1st day of July, 1893, the metallic stock of money in the United States, consisting of coin and bullion, amounted to $1,213,559,169, of which $597,697,685 was gold and $615,861,484 was silver.
On the 30th day of June, 1893, there were on the pension rolls 966,012 names, an increase of 89,944 over the number on the rolls June 30, 1892.
www.theamericanpresidency.us /1893.htm   (9218 words)

  
 The History Box |  The Panic Of 1873-Financial World
The events of the past week will pass into Wall Street history as the "industrial panic." As a panic it was the worst since 1873, and the full force of it fell on the industrial stocks.
The fact that they were railroad stocks, and not industrials, did not secure them against the effects of excessive speculation; neither because this panic, of 1893, has taken place in the industrials, does it follow that industrial stocks are of less value than railroad stocks.
Here, then, is a mass of $310,000,000 of stocks, of recent creation, in which public speculation has been extremely active, so much so as to leave the old railroad favorites of speculation quite in the shade, but which have not as yet found a settled standing among the financial community.
thehistorybox.com /ny_city/panics/panics_article10a.htm   (863 words)

  
 Utah History Encyclopedia
The Panic of 1893 was a national financial crisis that hit the West and Utah especially hard.
By the winter of 1893 about 18 percent of the national work force was without jobs.
For Utah the Panic of 1893 was not simply another financial panic to be briefly endured and weathered.
www.media.utah.edu /UHE/p/PANIC1893.html   (844 words)

  
 1893 - Biocrawler   (Site not responding. Last check: 2007-10-21)
1890 1891 1892 - 1893 - 1894 1895 1896
1893 was a common year starting on Sunday (see link for calendar).
You can find it there under the keyword 1893 (http://en.wikipedia.org/wiki/1893)The list of previous authors is available here: version history (http://en.wikipedia.org/w/index.php?title=1893andaction=history).
www.biocrawler.com /encyclopedia/1893   (981 words)

  
 HistoryLink Essay: Panic of 1893: Seattle's First Great Depression
Because Seattle was still rebuilding from the disastrous fire of 1889 and depended heavily on Eastern capital, the ensuing Panic of '93 hit the city hard with corporate bankruptcies, mass layoffs, bank failures, and white-collar crime.
The Panic of 1893 and the depression it spawned marked a painful, bitter end to the prosperous Gilded Age.
Seattle in 1893 was still recovering from the great fire that four years before had leveled its original downtown (today's Pioneer Square).
www.historylink.org /output.CFM?file_ID=2030   (1554 words)

  
 The History Box |  The Panic Of 1893-Presidential Papers
Manifestly a refusal by the Secretary to pay these Treasury notes in gold if demanded would necessarily result in their discredit and depreciation as obligations payable only in silver, and would destroy the parity between the two metals by establishing a discrimination in favor of gold.
That the opportunity we have offered has not been neglected is shown by the large amounts of gold which have been recently drawn from our Treasury and exported to increase the financial strength of foreign nations.
Between the 1st day of July, 1890, and the 15th day of July, 1893, the gold coin and bullion in our Treasury decreased more than $132,000,000, while during the same period the silver coin and bullion in the Treasury increased more than $147,000,000.
thehistorybox.com /ny_city/panics/panics_article11a.htm   (781 words)

  
 HistoryLink Essay: Panic of 1893 sends King County and the Puget Sound region into a four year depression on May 5, ...
HistoryLink Essay: Panic of 1893 sends King County and the Puget Sound region into a four year depression on May 5, 1893.
Panic of 1893 sends King County and the Puget Sound region into a four year depression on May 5, 1893.
An economic panic is fear: Bank depositors fear that banks will fail and that they will lose all or most of their savings.
www.historylink.org /output.cfm?file_ID=1972   (1353 words)

  
 The Silver Panic   (Site not responding. Last check: 2007-10-21)
Strangely, the awesome Panic of 1893 seems to have escaped the careful scrutiny and exhaustive research of historians.
In the case of the Panic of 1893, the tragedy is smothered with the fingerprints of politicians.
Jett Lauck, The Causes of the Panic of 1893 (Boston: Houghton, Mifflin and Co., 1907), p.
www.libertyhaven.com /theoreticalorphilosophicalissues/protectionismpopulismandinterventionism/silverpanic.html   (4665 words)

  
 The Coming Battle, Chapter 10
Every monetary panic from which the American people had suffered, was the deliberate work of that class of men who pompously ascribed to themselves the sum and substance of all the financial wisdom of the nation.
They are the financiers who have brought on every panic since 1865, and, from the tumbling of stocks and wreckage of fortunes, gather in the wealth of the country.
It is only by the extent to which this system has been pushed of late, that we have been made fully aware of its irresistible tendency to subjectour own banks and currency to a vast controlling power in a foreign land; and it adds a new argument to those which illustrate their precarious situation.
www.mega.nu:8080 /ampp/comingbattle/cbchap10.htm   (8953 words)

  
 Commerce | Sioux City History
On April 21, 1893, the federal gold reserve limit was reached.
The Sioux City Stockyards and Combination Bridge project were victims of the Panic of 1893.
The national Financial Panic of 1893 ended the Boom Years of Sioux City's growth.
www.siouxcityhistory.org /commerce/more.php?id=77_0_8_0_M   (1073 words)

  
 Depression of 1893-1898   (Site not responding. Last check: 2007-10-21)
It is clear that the U.S. went through a severe economic depression during the period of 1893 to 1898, but the statistical apparatus did not exist at the time to precisely document it.
As has happened in other times some politicians went on record stating that the American economy was in a high state of prosperity just before the financial panic began and 500 banks and 16,000 businesses declared bankruptcy.
While the financial might of the railroads constitutes only a part of the economy it does represent a major source of demand for some commodities such as steel.
www.sjsu.edu /faculty/watkins/dep1893.htm   (170 words)

  
 [No title]
THE PANIC OF 1893 The Panic of 1893 was a national financial crisis that hit the West and Utah especially hard.
Thus, when the Panic of 1893 reached Utah, it found-and worsened-an already precarious situation.
Public works are stopped, and thousands of men are out of employment." No doubt the panic could have been worse.
www.uen.org /ucme/media/text/ta000663.txt   (848 words)

  
 StartABank.com
One argues that panics are driven by real shocks, asymmetric information, and concerns about insolvency.
This paper tests predictions of these two theories using information uniquely available for the Panic of 1893.
The results suggest that real economic shocks were important determinants of the location of panics at the national level, however at the local level, both insolvency and illiquidity were important as triggers of bank panics.
www.startabank.com /history/banksuspensions.asp   (101 words)

  
 Secretary of the Treasury - John G. Carlisle   (Site not responding. Last check: 2007-10-21)
Carlisle attributed the financial ills of the country to the over issue of government notes based on silver, and demanded their withdrawal and a return to a gold standard.
(Final provision for their retirement was made in the Gold Standard Act of 1900, which returned the country to a currency based on gold.) The Panic of 1893 also set the stage for the introduction of an income tax that same year, to provide the government with steady revenue.
His portrait of John G. Carlisle, executed in 1893, was painted from life during Carlisle's tenure as Secretary.
www.ustreas.gov /offices/management/curator/collection/secretary/carlisle.htm   (298 words)

  
 Panic of 1893
The reform efforts of the last quarter of the 19th century had not been sufficient; new leadership was needed for the next century.
More books on Panic of 1893 can be found at Barnes & Noble.
Memorabilia related to Panic of 1893 is at auction on eBay.
www.u-s-history.com /pages/h792.html   (431 words)

  
 [No title]
It was kind of ironic that the fair began in the autumn of 1893 shortly after the -- well, the panic of 1893 which led to the worst depression in American history.
BRANDS: Well, the depression of the 1890s followed the so called "panic of 1893" which, in turn, was the result of the withdrawal of foreign capital from American capital markets.
There was a particular poignancy and particular credibility that was lent to this interpretation by the onset of the depression that began in 1893.
www.pbs.org /crucible/interviews/Brands.doc   (4997 words)

  
 The UMWA: Its Presidents in Historical Perspective - Part I
During his tenure the panic of 1893 oppressed the country, wages had decreased, and many families were on the verge of starvation.
"It was fought when the incubus of the panic was still in force, but was soon followed by a revival of business.
Thousands of mine workers who had withdrawn from the union, returned." As a result, Ratchford gained a national reputation as a "wise and able leader of men." At the 1898 convention, the cheering rank and file acclaimed him one of the great labor statesmen.
www.suite101.com /article.cfm/labor_history/22091/2   (556 words)

  
 Panic of 1893
The economic collapse of the Philadelphia and Reading Railroads was the first step toward the Panic of 1893.
Unemployment steadily grew, rising from 1 million in August 1893 to 2 million by January 1894 By the middle of the year, the figure had reached 3 million.
Most relief for those without jobs was provided by local voluntary organizations, who were quite overwhelmed by the need.
www.multied.com /Industrialage/Panic1893.html   (167 words)

  
 1a. First Modern Election: 1896 -- GOP Victorious [Beyond Books - PoliticalFest 2000]
The Panic of 1893 was the worst financial crisis to date in American history.
When Jacob S. Coxey of Ohio marched his "army" of 200 supporters into the nation's capital to demand reforms in the spring of 1894, many thought a revolution was brewing.
Had the election occurred in the heart of the Panic of 1893, the results may have differed.
www.beyondbooks.com /gop00/1a.asp?pf=on   (750 words)

  
 Jaybird12
The Panic of 1893 and the success of the steel pool in limiting rail production had merely pressed Moxham to move more quickly.
Over the next four years, he was the driving force behind the modernization of Central's mining operations and the transformation of Central City from a one-store town with mud streets to a thriving city.
He was by all accounts genuinely popular with both miners and local businessmen, and decided in 1893 to run for mayor of Central City.
www.pitt.edu /~zander/Jaybird12.htm   (3001 words)

  
 Aspen On The Roaring Fork Chapter XI
Note.—1893 was a bad year for the people of the United States for it was a year of a very disastrous panic.
A panic which brought the price of farm products down so they scraped bottom.
I-recall that in the autumn of 1896 when I was living in Connecticut, corn meal was selling at seventy cents a hundred, and oats for ninety cents a hundred.
www.aspenhistory.org /aorfch11.html   (2681 words)

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