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.