Question

The Panic of 1893 ________.a. grew out of a political scandal in the Cleveland administration. b. was blamed largely on Populist politics. c. began with a drought in the Midwest. d. grew out of the Cleveland administration’s attempts at monetary reform. e. triggered the nation’s most severe depression up to that point.

Answer 1

Answer:

E

Explanation:

This panic, as with every other one in U.S. history was in response to economic downturn.

Answer 2

Answer:

e. triggered the nation’s most severe depression up to that point.

Explanation:

The 1893 Panic started after the two largest employers of the time went bankrupt. Panic erupted in the stock market. Over 15,000 companies shut down during this period. Unemployment rates went up to 20-25% nationwide. Homelessness grew considerably as laid-off workers weren´t able to pay their mortgages. It became difficult to buy food for many people.