The Panic of 1873

The financial crisis that kicked off there in september 18 73 would become one of the worst the has experienced up until the great depression. Much of the nation's economy did not recover for over six years. A hundred and 15 railroads would go under bankrupt during that period, and over 18 thousand businesses would be shut down before the economy improved. The panic also would ruin many prominent bankers of the day, helping to clear the way for gasu j p. Morgan to rise to power.