The Day the World's Economy Collapsed — The Panic of 1873 скачать в хорошем качестве

The Day the World's Economy Collapsed — The Panic of 1873

On September 18, 1873, one of the most powerful banks in America locked its doors. What followed brought the world to its knees. Jay Cooke & Company had financed the Union Army through the Civil War. It had sold millions in government bonds. It had become, in the minds of ordinary investors, something close to the American financial system itself. When it failed, it did not fail quietly. The New York Stock Exchange suspended trading for ten days. Banks collapsed in chains across the eastern seaboard. Unemployment reached 14 percent. One in four workers in New York had no job by the winter of 1873. The depression that followed lasted longer than the Great Depression of the 1930s — sixty-five months of contraction, by the measurement of the National Bureau of Economic Research. This is the story of the Panic of 1873: the railroad bubble, the silver demonetization, the crash in Vienna, the closing of Wall Street, the bread lines, the strikes, the soldiers who fired on their own countrymen. The first time the world learned that economies do not exist in isolation — that a bad bet in one country can starve children in another. ━━━━━━━━━━━━━━━━━━━━━ CHAPTERS ━━━━━━━━━━━━━━━━━━━━━ 0:00 — The Day the Music Stopped 2:10 — The World Before the Crash 5:11 — The Railroad Bubble 7:32 — Vienna Burns First 9:49 — Jay Cooke's Empire 12:22 — September 18, 1873 14:30 — The Exchange Closes 16:38 — The Long Depression 19:56 — The Human Cost 22:52 — The Great Railroad Strike of 1877 26:14 — Who Built the Gilded Age on the Ruins 29:11 — What This Was and What We Never Learned ━━━━━━━━━━━━━━━━━━━━━ NIGHT HISTORY FILES ━━━━━━━━━━━━━━━━━━━━━ True stories. Told in the dark. Every week, a new story that history almost forgot. Subscribe to catch every story. #PanicOf1873 #FirstGlobalRecession #LongDepression #DarkHistory #NightHistoryFiles #ForgottenHistory #TrueStories #JayCooke #Gilded Age #EconomicHistory