Panic of 1873 Eerily Similar to Today's Economic Problems
I'm a regular reader of the American Historical Association blog, and every Thursday they have an article called What We're Reading. This week they have an interesting link to an article in The Chronicle Review called The Real Great Depression. The author says we shouldn't be comparing today's economic problems with the depression of 1929, but instead should look at the Panic of 1873. He then goes into a good description of the 1873 problems and I think he's correct. The Panic of 1873 contained elements similar to our current problems and the whole mess actually sounds quite scary, and almost sounds like what is going on today.
If you want further reading causing you to want to stuff your mattress with cash, look at the following links:
The Guilded Age: The Panic of 1873 - Northern Illinois University
The Panic of 1873 - The History Box
Panic of 1873 - Wikipedia
Our Financial Troubles; The Government and the Panic in America - New York Times, Nov 15, 1873







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