In 1893, widespread financial panic struck the United States. The root of this panic can be traced to overproduction and British and American financial crises in 1890. By 1893, pessimism was at ahigh. That year a stock market panic led to widespread bank failures and, subsequently, a four-year depression.
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Citation: Richert, Lucas Paul. "Financial Panic Begins". The Literary Encyclopedia. First published 01 February 2009 [https://www.litencyc.com/php/stopics.php?rec=true&UID=5986, accessed 26 November 2024.]
