<span>During the early 1870s, the nation suffered an economic Crisis.
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This was also know as the Panic of 1873 which started from Vienna, the capital of the Austro-Hungarian capital.
The Panic turned into a recession which spread all over the Austro-Hungarian Empire and eventually the whole of Europe.
The United States which at this time, was dependent on Europe for much of trade quickly got caught in the turmoil.
It was considered the greatest recession in US history until it was overtaken by the Great Depression.
The pros were that you were being protected by the guild in case of something bad happening you like getting hurt or similar. They would help you and your family for example. The cons were that you wouldn't be able to dictate the price of your wares which was done to prevent exploitation of consumers, so even if you were in a position to establish a personal monopoly, you couldn't and you couldn't become richer than what is the adequate wealth for a merchant.
