The 1893 U.S. financial panic linked to railroad failures and bank runs was the Panic of 1893.
The collapse of the Philadelphia and Reading Railroad in February 1893 was an early warning, and the failure of the National Cordage Company in May intensified financial stress. Investors and depositors became increasingly concerned about banks, railroads, and the supply of gold supporting the dollar.
Bank runs and business failures spread across the United States. Unemployment rose sharply, railroad construction contracted, and many companies entered receivership. The panic helped produce a severe depression that lasted through much of the 1890s.
The crisis also intensified the political dispute between advocates of the gold standard and supporters of free silver. It is distinct from the Panic of 1873, despite both crises being closely associated with railroad speculation.