Panic of 1893

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During the 1890s, there was a time of economic depression in the year 1893. This was caused by the 1890 Sherman Silver Purchase Act which required the United States government to purchase 4.5 million onces of silver every month at market price, purchased with a new issue of treasury notes and minted into dollar coins, both of which could be redeemed for gold from the U.S. Treasury. The Act also required the Treasury to value gold at sixteen times that of silver by law. By doing this, America was seen as dependent and the country's financial integretity was questioned because it needed large amounts of gold to meet any of its needed obligations. The price of silver also continued to decline which caused mines to close, forcing some men out of work while those who stayed recieved crucial pay cuts. The Panic of 1893 caused many American people to lose their howmes and savings forcing them to move out of the States.

Americans. They're everywhere. They keep coming to England hoping to find some type of solitude from the chaos that is America. It is not our duty to help them when their economic downfall was something they caused. They will just come here and make a mess of things. I refuse to have my home tarnished! I hate their accents and mannerisms. The women? Don't get me started. The men here swoon as if they have not seen sirens on the deadly seas. They could have just stayed in America. The women are not more handsome than English women. They just behave as if they are. It is what makes them entriguing to some English men. But not I! I shall stand behind English women till the death if needed. America is supposed to be their paradise, these women should not be here making a mockery of English women. I won't allow it! God forbid my dearest nephew marries one. -Lord Fermor

Caldbick, John. "Panic of 1893 and Its Aftermath." 01 Oct. 2019. Web. 19 Oct. 2020.

"Panic of 1893." Wikipedia. Wikimedia Foundation, 17 Oct. 2020. Web. 19 Oct. 2020