The Panic of 1893 was a major economic crisis in the United States, the largest it had seen up to that time. Many Americans saw the panic as a result of increased railroad speculation after the Civil War and a rigid attachment to the gold standard. The panic gave power to the Populists, a political movement of farmers who opposed the growing power of industrialists, and brought the issue of eliminating the gold standard to the center of the 1896 election.
The federal government passed laws allowing people to sell back land they could not pay for and use the money to pay their debt. States made it more difficult to foreclose on mortgages and tried to make it easier for people to declare bankruptcy.
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After the emergence of Islam, which was proclaimed by Muhammad, there emerged a caliphate, as an Islamic state under the leadership of the Caliph, a religious leader who represented the religious successor to the Prophet Muhammad. There were three main caliphates, one after the other, during the medieval period: Rashidun Caliphate, Umayyads Caliphate and Abbasid Caliphate. Starting with Umayyads, the title of the caliph became hereditary within the dinasty, and their empire grew rapidly, adding new territories to the Muslim world, reached the situation of the largest empire at that time, and the sixth empire in history. By other Muslims, they were considered too secular.
