What name is given to the 1893 U.S. banking and stock-market crisis?

The 1893 U.S. banking and stock-market crisis is called the Panic of 1893.

The panic followed the collapse of the Philadelphia and Reading Railroad and the failure of other heavily indebted rail companies. Investors became increasingly concerned about the financial stability of businesses and banks, leading to withdrawals, falling share prices, and a sharp contraction in credit.

The crisis was intensified by uncertainty over U.S. monetary policy, especially debate about whether silver should supplement or replace gold in the monetary system. The failure of the National Cordage Company in May 1893 became another major shock to confidence.

The Panic of 1893 produced a severe depression in the United States. Unemployment rose, thousands of businesses and banks failed, and railroad bankruptcies became widespread. It was one of the most serious economic crises in nineteenth-century America and helped shape the political conflict that culminated in the 1896 presidential election.