9) Uprising of Northern Workers

9 Uprising of - U prising of Northern Workers the Cooperative Vision Panic of 1893 Depression 4 years long Ter rible year for stock market crashes

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Panic of 1893 Depression, 4 years long Terrible year for stock market; crashes 491 banks collapse; 15,000 businesses fail; unemployment up to 20% Depression of 1893 (lasted till 1897) Farms o Crop prices down o Farmers no longer self-sufficient (debt) o More farms but also selling their labor on the market (competition) Railroads o Overcapitalized: too many competitors, competition at height, buy out competitor but it costs o Railroad construction down Bankruptcy leads to the depression Receivership: government comes in and runs the railroad companies until things are back in order Affected Industries o Steel and iron Bank Failures European De-Investment (Europe is going through their own depression) Gold flows from NYC to Europe All foreign investments disappear
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Grover Cleveland-laissez faire Borrowed from J.P. Morgan Homeless and Unemployment skyrockets Urban phenomenon of homeless people
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This note was uploaded on 03/09/2011 for the course HISTORY 1310 taught by Professor Etienne-gray during the Spring '10 term at Texas State.

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9 Uprising of - U prising of Northern Workers the Cooperative Vision Panic of 1893 Depression 4 years long Ter rible year for stock market crashes

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