The United States plunged into an economic depression in the 1890s. The economy was expanding way too rapidly. During this depression, people became hostile with one another, businesses were failing, and blame was being placed towards the government. Social life changed, strikes began, and depression led to the Panic of 1893.
The southern agricultural areas were one of the first areas to feel the effect of the depression. By 1893 the depression had spread to urban areas. Jobs were lost. Railroads went bankrupt. Wall Street was effected to. Stock markets hit an all time low.
Jobs were lost by people throughout the country. Closing of businesses and banks put many people out of work. Women and children had to find work, if they could. To the economy poverty was seen as failure. Social life was changed. Some even took their own lives instead of facing hardships, humiliation, or hunger. Case workers tried to help the poor. There were not even enough churches or charities to help out with the problems of the people.
Strikes were formed during the depression. The “Industrial Army” or Coxey’s Army, was a group of jobless persons that formed to do a march to Washington. Coxey went in hope that the government would make a deal to finance a major road project to help the jobless find work. He did not make it past the first step. The march failed. Later the Pullman Strike began after Coxey’s arrest. Workers at Pullman Palace Car Company struck to protest problems with high rents, layoff, and cut wages. It hit the west hard, but was also stopped not long after it began. The Coal Miner Strike was another that had little effect. The miners were affected by wage deductions and a flood of immigrants looking for jobs. The immigrants would work for lower wages. This strike was not in the spot light because of the Pullman Strike.
People were blaming the government for not having control of the situation. President Cleveland believed the cause of the depression was the Sherman...