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bio website BG.SE
location Earth
age 38
visits member for 1 year, 8 months
seen Feb 2 at 15:08

The economy is in fact over-expanded, particularly in railroad construction, and the weak link turns out to be the banking house of Jay Cooke and Company, which helped the U.S. Government finance the Civil War and also underwrote the construction of the Northern Pacific Railroad. Jay Cooke and Company, a large and respected banking house declares itself bankrupt, and announces its failure on September 18, 1873.. (The bank's collapse precipitates the "Panic of 1873" and the ensuing three yea depression during which more than 10,000 businesses fail.     The basic economic problems are overproduction, a declining market and deflation. Investors in Europe, where a depression is already underway, begin to call in American loans. The New York Stock Exchange closes its doors for 10 days; other businesses fail; and railroad construction is curtailed, with some railroads defaulting on their bonds. The unemployed begin to move about the country seeking jobs, and bread lines appear in the cities. The hard times drove numbers of laboring people and those in humble circumstances to the West and other portions of the country, to seek the rewards which the stagnation of business in the great commercial centre denied them.


Jan
18
comment How do I address a teacher humiliating my son by calling him a “tattletale”?
The teacher isn't even using tattletale properly (unless his purpose was for the teacher to hear it). The proper term would probably be busybody (hopefully, this wasn't an English teacher)
Dec
25
comment Should I tell my 11-year-old daughter that Santa isn't real?
Santa may not have to worry about money, but Justin Bieber does. Maybe Santa was able to get 4 tickets before his North Pole VISA card was rejected by Ticketmaster? Maybe her other 3-4 friends weren't high enough up on the nice list? Bad job at being parents? how?
Mar
18
comment Is it harmful to let a 4 month old baby eat an Easter peep?
marshallows could be a choking hazard, and due to a 4-month olds likely inability to mastiscate well might kill them. But, since they survived this time no harm no foul. No more dangerous than grapes, hot dogs, or any other round food.
Nov
2
awarded  Peer Pressure
Sep
6
answered How do you help an older sibling understand an intersex younger sibling?
Aug
8
awarded  Teacher
Aug
7
awarded  Supporter
Aug
6
comment How to fit 3 children car seats into the back of a car
Don't let scientific data stand in the way of ignorant downvoting.
Aug
6
answered How to fit 3 children car seats into the back of a car
Aug
6
answered How can I get my 4 year old to clean up toys without a battle?
Aug
6
awarded  Autobiographer