The Panic of 1893 was a serious economic depression in the United States that began in 1893. This panic is sometimes considered a part of the Long Depression which began with the Panic of 1873,[1] and like that of earlier crashes, was caused by railroad overbuilding and shaky railroad financing; which set off a series of bank failures.

It Started in 1893.

The Panic of 1893 was caused by railroad overbuilding and shaky railroad financing which set off a series of bank failures. (See related link for more information on the Panic of 1893)

The Panic of 1893 caused the failure of 500 banks and 15,000 businesses. Farms were abandoned, and people were starving. Unemployment skyrocketed.

The panic of 1887 began with the bankruptcy of Jay Cook and company