Panic and Consolidation
the panic in 1893 was the worst depression up to that point of time.
by the end of 1893, 600 banks and 15,000 businesses had failed, and by 1895 4 million americans were out of a job.
In mid 1894, a quarter of the railroads were owned by financial companies
Through the golden door
Came in the late 19th century to early
Between 1870 and 1920 about 20 million Europeans arrived in the US.
Before 1890, most immigrants came from counties in western and northern Europe.
In1907, 1 million people arrived from Italy, Austria-Hungary, and Russia.
Between 1851 and 1883, 300,000 Chinese arrived.
Most wanted to seek fortune after the discovery of gold from the gold rush.
Helped build the nations railroad.
After building the railroads, they either turned to farming, or mining.
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