Construction of new rail lines in the …
Years: 1875 - 1875
Construction of new rail lines in the United States, formerly one of the backbones of the economy, has plummeted from seventy-five hundred miles of track in 1872 to just sixteen hundred miles in 1875.
A total of eighteen thousand businesses have ailed between 1873 and 1875, with unemployment topping fourteen percent by the end of the period.
Building construction has been halted, wages have been cut, real estate values have fallen and corporate profits have vanished.
Stock manipulator Daniel Drew loses the remainder of his fortune in the panic.
Locations
People
Groups
Topics
- Party System, Third (United States)
- American Civil War & Reconstruction; 1864 through 1875
- Industrial Revolution, Second
- Depression, Long
- Panic of 1873
