Description
Factors that Contributed to the Panic of 1893
The United States of America has experienced, endured, and overcome numerous instances of threats to its existence since time immemorial.
- The
core assignment of this course is a documented research paper
(1500-2000 words in length = approx. 6 - 8 pages double spaced, 12-point
font).
- The essay should support a thesis statement with information gained from research or investigation.
- The paper will not be just a report presenting information, but will be an essay that carefully examines and presents your own historical interpretation of the topic you have chosen and your interpretation of the information you have gathered.
- The paper may include consideration of problems and solutions, define key terms, or refute arguments against your thesis statement.
- Approach this assignment with an open and skeptical mind, then form an opinion based on what you have discovered.
- You must suspend belief while you are investigating and let the discoveries shape your opinion. (This is a thesis-finding approach.)
- Once you have found your thesis, write the paper to support it.
- Choosing an appropriate topic, limiting the topic
- Gathering information, summarizing sources
- Analyzing and evaluating sources
- Defining key terms
- Synthesizing information, comparing and contrasting sources
- Testing a thesis, making an historical argument, using refutation
- Amassing support for a position
- Documenting sources
- Choose a topic related to U.S. History after 1877 (Chapters 16-28) that you would truly like to explore and that you are willing to spend some time on. Your chosen topic should be focused. Pose a question that you really want to answer. You may want to begin with more than one topic in mind.
- Do some preliminary reading on the topic(s). You may begin with the textbook, then further explore the information available. Refine your topic. Summarize your topic, your interest in the topic, the questions you want to answer, and a hypothesis you want to test.
- Gather information from a variety of sources. Use a minimum of four sources for your paper, and at least one must be a primary source.
- Examples of primary sources are ones that are used in our discussion forums 2 - 8.
- They are sources that are contemporary to the times under investigation.
- An example of a secondary source is our textbook, though the textbook also contains excerpts of primary sources, which you may use as a source in your essay.
- Outline the results of your research and then plan for your essay (note you are not required to submit the outline).
- Write the final draft and be sure to include a Works Cited List; be sure to use the correct MLA documentation style.
TOTAL: 100
Explanation & Answer
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Factors That Contributed To the Panic Of 1893
Like any other serious financial downturns, the depression of early 1990s was followed
by major shocks and panics that undermined general public confidence and subsequently
weakened the U.S economy. The panic of 1893 resulted to a spectacular financial crunch that led
to the experienced economic recession. Towards the end of Harrison government, the Reading
Railroad which was the major eastern line ran into bankruptcy moment (American History,
2016). The receivership was preceded by major collapse in many banks and individual business
that were depending on Reading Railroad and other railroads. The stock market was forced to act
with an intense plunge because of the fear of further impacts of this receivership. For example,
the investors from the Europe considered pulling out their funds out of the United States
(Rezneck, 1968). Other impacts were experienced as far as the other sides of Atlantic because
the impacts of then affected the agricultural sector in the West and South. Cleveland at that time
had not done much to address the situation despite the fact that many people had lost
employment due to closure of the business. In his argument, Cleveland felt not to interfere with
business cycle as he thought it was a natural occurrence that should not meet interference by
politicians. The president however did not take a keen insight that the gold reserve had been
experiencing steady decline during the last periods of Harrison’s government. Weeks after
Cleveland took leadership, the U.S gold reserves went below 100 million dollars; this created a
psychological problem that led to further mistrust from the public(Rezneck, 1968). The
president’s attempt to correct the gold situation did not work well as he found himself dividing
the Democratic Party and alienating the silver forces of West and South. The impact ...
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