Half of all railroads went bankrupt; the US economy shrunk by a third.
Taras Grescoe 🚇 on Nostr: When Europeans realized this, the flow of capital to the US stopped, abruptly. This ...
When Europeans realized this, the flow of capital to the US stopped, abruptly. This led to the Panic of 1873. Then Jay Cooke’s Northern Pacific failed: the beginning of the end.
Half of all railroads went bankrupt; the US economy shrunk by a third.
Half of all railroads went bankrupt; the US economy shrunk by a third.