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Vika [28.1K]
3 years ago
11

What was the defining moment that started the Panic of 1893? major corporate monopolies fell apart income tax rates were raised

across the board the closing of the Reading Railroad bank dividends came to an end for borrowers
History
2 answers:
telo118 [61]3 years ago
7 0

the closing of the Reading Railroad

Elodia [21]3 years ago
6 0
Income tax rates being raised across the board was the defining moment that started the panic of 1893
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It is consider that both the sinking if the USS Maine and The Lusitania were factors in US entering two different wars (the war between US and Spain and the First World War).

The USS Maine was sunk in 1898 in Cuba. The battleship was near the  Cuban coast while there was a conflict between Spain and Cuban nationalists  fighters. It is believed that a mine was the cause of the explosion of the USS Maine resulting in the death of hundreds of men on board. There was already support in the US for the Cuban nationalist cause and the USS Maine incident galvanized the public opinion against Spain.

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