Panic of 1873

The Panic of 1873 was a financial crisis that triggered an economic depression lasting from 1873 to 1877 across Europe and North America, causing the "Long Depression" in Britain and the "Great Depression" in the United States until 1929. The crisis resulted from multiple factors including American inflation, speculative railroad investments, silver demonetization, the Franco-Prussian War's economic ripples, and major fires that strained bank reserves, with the initial collapse beginning in Vienna before spreading globally.