Key Events
Panic of 1873Railroads were constructed from borrowed money from banks and industries. Two of the major banks in the United States; Jay Cooke and Company, and New York Warehouse and Security Company, went bankrupt. The railroad business came to a halt, and half of America's transport business was affected.People were unemployed, companies started closing down, and education suffered.
In September 1873, the Jay Cooke and Company found that it was unable to market millions of dollars in the Northern Pacific Railway bonds. The company had become completely bankrupt. Several factories also closed down and unemployment became a major issue. This changed the direction in history in the United State by the people turning against the Republican government, which at that time was being led by President Ulysses S. Grant. They turned to the Democrats and this was bad news for the African-Americans who wanted social reforms. The crisis lasted from 1873 to 1879. I chose this as a point of historical significance because it ruined all the good progress that the second industrial revolution had done. |
Great Railroad Strike of 1877The Great Railroad Strike started on July 17 in Martinsburg, West Virginia, after Baltimore and Ohio Railroad had cut wages for the second time in one year. Protesters started to form and didn't let any trains move until the pay cut was restored. Military units were sent by the government to restore the train service, but the soldiers refused to use force against the workers. Baltimore started striking and this triggered bloody street battles. The soldiers fired into a crowd and killed ten people. In Pittsburgh, strikes began and soldiers refused to fire at them. In Chicago, strikes ranged to twenty thousand people. In St. Louis, strikes had been standing there for over a week and had not backed down. In towns throughout cities there were battles, arrests, injuries and deaths. Then Federal troops went from city to city, putting down strike after strike for a few weeks. The Great Railroad Strike of 1877 was then over. This changed the direction of history in the U.S. because the people wanted change for the railroads. I chose this event because there were many strikes involved in this. |
Haymarket RiotThe May 4, 1886, rally at Haymarket Square was organized by labor radicals to protest the killing and wounding of workers by the Chicago police during a strike the day before at the McCormick Reaper Works. As the police came, an individual who was never identified threw a bomb at them. The police and possibly some members of the crowd opened fire and everything went into chaos. Seven police officers and at least one civilian died. In the aftermath of the Haymarket Square Riot and subsequent trial and executions, public opinion was divided. For some people, the events led to an anti-labor sentiment. Others believed the men had been convicted unfairly and viewed them as martyrs. This changed the direction of history in the United States by creating a xenophobia fear throughout the nation and anti labor sentiment. I chose this event because it heightened the tension between unions and big businesses. |
Dutta, Ratnarshi. "Panic of 1873." Buzzle. Buzzle.com, 17 Dec. 2010. Web. 07 Dec. 2015.
"Great Railroad Strike, 1877 by Granger." Fine Art America. N.p., n.d. Web. 07 Dec. 2015.
"Haymarket Affair." GallagherEBlockGroup2 -. N.p., n.d. Web. 07 Dec. 2015.
"Haymarket Square Riot." History.com. A&E Television Networks, n.d. Web. 07 Dec. 2015.
"Railroads and the Making of Modern America." Railroads and the Making of Modern America. N.p., n.d. Web. 07 Dec. 2015.
"Great Railroad Strike, 1877 by Granger." Fine Art America. N.p., n.d. Web. 07 Dec. 2015.
"Haymarket Affair." GallagherEBlockGroup2 -. N.p., n.d. Web. 07 Dec. 2015.
"Haymarket Square Riot." History.com. A&E Television Networks, n.d. Web. 07 Dec. 2015.
"Railroads and the Making of Modern America." Railroads and the Making of Modern America. N.p., n.d. Web. 07 Dec. 2015.