What name is given to the severe US financial crisis that began in 1893?

The severe US financial crisis that began in 1893 is called the Panic of 1893.

The panic followed the collapse of the Philadelphia and Reading Railroad and growing concern about railroad finances, bank reserves, and the US government’s gold holdings. The failure of the National Cordage Company in May 1893 intensified the crisis. Banks suspended payments, businesses failed, and unemployment rose sharply.

The Panic of 1893 became one of the worst depressions the United States had experienced up to that time. It also contributed to political conflict over monetary policy, especially the debate over whether the country should maintain a gold standard or expand the use of silver. It is sometimes confused with the Panic of 1873, which helped begin the separate Long Depression.