Panic of 1893
The panic of 1893 was a serious economic depression in the United States that began in 1893. Similar to the panic of 1873, it was marked by the overbuilding and shaky financing of railroads, resulting in a series of bank failures. Compounding market overbuilding and the railroad bubble was a run on the gold supply. The panic of '93 was the worst economic depression the United States had ever experienced at the time.
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Books/Sources
- The Panic of 1893;: A time of strikes, riots, hobo camps, Coxey's "army", starvation, withering droughts, and... - Frank Brown Latham
- The causes of the panic of 1893 - W. Jett Lauck
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