Panic of 1857

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The Panic of 1857 was a financial crisis in the United States caused by the declining international economy and over-expansion of the domestic economy. Because of the invention of the telegraph by Samuel F. Morse in 1844, the Panic of 1857 was the first financial crisis to spread rapidly throughout the United States.

Excerpt from the Wikipedia article “Panic of 1857”, under the CC BY-SA 4.0 license. Read the article on Wikipedia

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