Reply To: Panic/Depression of 1873 Causes


Thanks for joining the site. I hope you enjoy the material. I briefly discussed this issue in my last presentation for U.S. History to 1877. The corrupt Republican controlled governments at both the State and general level spent heavily on internal improvements in the post war period. That coupled with debt and inflation led to a natural contraction in both the U.S. and Great Britain. Excessive spending+excessive debt+high inflation=recipe for disaster.