The Gilded Age

The Gilded Age
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Storyboard Text

  • I'm Jay Cooke and my banking firm just collapsed.
  • Following the collapse of the banking firm of Jay Cooke, there was a large scale fall in stock prices.
  • The railroad boom couldn't be sustained and was  built on borrowed money.
  • HUGE amounts of money were required to build railroads!
  • The U.S. government had issued millions of dollars of what was called 'green-backs.'
  • Money supply should be limited and tied to gold or silver
  • A currency shortage issue was created 
  • The immediate case of the crash began in Europe. The U.S. soon followed suite.
  • The German gov. decided to only use currency backed by gold.
  • Oh no! We lost our jobs and our wages have dropped...
  • The news that Jay Cooke was unable to meet his obligations created a panic that caused other banks to close.
  • How will we keep our house? What will we eat?
  • I'm unemployed and in debt... 
  • The Panic of 1873 triggered a depression in Europe and North America that lasted until 1879. 
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