Jay Cooke & Company collapse triggers Panic of 1873
Citations (1)
- Titan: The Life of John D. Rockefeller, Sr. whole source · open book
d in a prolonged slump that ground on for six interminable years. On Black Thursday— September 18, 1873—the august banking house of Jay Cooke and Company failed because of problems in financing the Northern Pacific Railway. This event ignited a panic, leading to a stock-exchange shutdown, a string of b
chapter: CHAPTER 9 - The New Monarch