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May 13, 2016 · Crisis Chronicles: Gold, Deflation, and the Panic of 1893. Thomas Klitgaard and James Narron. In the late 1800s, a surge in silver production made a shift toward a monetary standard based on gold and silver rather than gold alone increasingly attractive to debtors seeking relief through higher prices.
Full Article. The Panic of 1893 touched off a nationwide economic depression that lasted for at least three years, threw millions out of work, and caused banks and businesses to fail across the country. In Colorado and other silver-mining states, the panic was tied to the abrupt collapse of the silver industry after two decades of explosive growth.
Apr 20, 2009 · The Panic of 1893 was a serious economic depression in the United States that began in that year.[1] . Similar to the Panic of 1873, this panic was marked by the collapse of railroad overbuilding and shaky railroad financing which set off a series of bank failures.
