Panic of 1893

The Panic of 1893 was a serious economic depression similar to the Panic of 1873 and the worst depression in the U.S. until the Great Depression.

The panic was caused by railroad overbuilding and shaky railroad financing which set off a series of bank failures. Along with market overbuilding and a railroad bubble was a run on the gold supply and a policy of using both gold and silver metals as a peg for the U.S. Dollar value.—

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