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Event:  Panic of 1873
Category:  Economy/Employment
Brief Description:  The Panic of 1873 was a result of the aftermath of the Franco-Prussian War. American farmers suddenly faced less demand for their crops from post-war Europe. With too much supply and no demand, the farmers were unable to meet their financial obligations. Banks across the country consequently turned to foreclosures and experienced significant losses, resulting in a national financial panic. In St. Louis, one of the casualties of the panic was the National Freedmen’s Savings and Trust Company, which had been established to encourage ex-slaves to save their money. Construction of the Eads Bridge, however, continued to its completion in 1874.
Year:  1873
Decade:  1870 - 1879

 

 

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