What was the nickname of the 1893 U.S. railroad-centered financial crisis?

The 1893 U.S. railroad-centered financial crisis was called the Panic of 1893.

The panic emerged after major railroad companies failed, including the Philadelphia and Reading Railroad and the National Cordage Company. Railways had expanded aggressively with borrowed money, and doubts about their profitability weakened confidence in banks and securities markets.

The collapse of the Philadelphia and Reading Railroad in February 1893 was followed by further financial stress. Gold reserves declined, banks failed, and businesses reduced investment and employment. The crisis became one of the most severe economic downturns in the United States before the Great Depression.

The panic also intensified political conflict over the nation’s monetary system, especially whether the United States should maintain the gold standard or permit freer silver coinage. The depression that followed contributed to labor unrest, including the Pullman Strike of 1894. It is distinct from the Panic of 1873 and the Panic of 1907, despite the similar names.