Timeline September 1873

Events in September 1873 1

• 1873 Panic of 1873 Bank failures trigger a global economic depression The failure of banking house Jay Cooke & Company on 18 September 1873, undone by overinvestment in railroads, set off a financial panic that closed the New York Stock Exchange for ten days. The crisis spread through Europe and the United States, ushering in a prolonged economic downturn later called the Long Depression.