How Did Jay Cooke And The Northern Pacific Railroad Contribute To The Panic Of 1873
A. How did Jay Cooke and the Northern Pacific Railroad contribute to the Panic of 1873?
Jay Cooke financed the Northern Pacific Railroad. This Railroad incited most people because it seemed to have a promise of wealth, so a lot of investment came in. But, when Cooke went bankrupt, the Panic of 1873 began. Many people lost their jobs, and bread lines were seen everywhere.
B. What then led to the next economic crisis, the Panic of 1893?
Like the Panic of 1873, the Panic of 1893 was marked by the collapse of railroad overbuilding and shaking railroad financing which set off a series of bank failures.
C. According to the GL reading, who were the men who dominated this innovative era, and what was their area of expertise?
Andrew Carnegie, an
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