73- The Evergreen State & the Panic of 1893

The History Of The Evergreen State

What was described as America's "Gilded Age" came to an excruciating end less than four years after Washington Territory became a state when the country was hit by the worst economic catastrophe it had ever seen. The Panic of 1893, a four-month bout of financial hysteria, struck the country in late spring of that year. Thousands of banks and businesses failed during the depression that followed, railways went bankrupt, credit effectively dried up, unemployment rose, and tens of thousands of ordinary people lost their homes and money. The previous several years' galloping optimism in the Northwest abruptly gave way to widespread pessimism.
The economic disaster lasted several years, and it was not surpassed in terms of scope, severity, or longevity until the Great Depression of the 1930s. Every section of the Evergreen State's economy was heavily damaged and the state's ambitious young cities were particularly hard hit.
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