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Thread: Talk about a Panic situation today??? GDG<<GDG

  1. #1
    Senior Member MooseGooser's Avatar
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    Default Talk about a Panic situation today??? GDG<<GDG

    I found this interesting! Many web pages about this.

    The Panic of 1873:

    The Panic of 1873


    After the end of the Civil War, railroad construction in the United States had been booming. By 1873 railroad mileage had doubled itself since 1869, and this was a cause of rash speculation. Between 1866 and 1873, 35,000 miles of new track were laid across the country. Banks and other industries were putting their money in railroads. While business was expanding the currency was contracting. Paper money had depreciated, and the conditions foreboded a crash. So when the banking firm of Jay Cooke and Company, a firm heavily invested in railroad construction, closed its doors on September 18, 1873, a major economic panic swept the nation.


    Jay Cooke firm handled most of the government loans during the war and was financing the planned Northern Pacific Railroad. The first transcontinental railroad had been completed in 1869 and entrepreneurs planned the Northern Pacific as the second. Cookeís firm was the financial agent in this venture and poured money into it. Then on September 18, 1873, the company realized it had overextended itself and declared bankruptcy.


    The collapse was disastrous for the nationís economy. Other strong institutions tottered and thousands of people in every rank of life were stricken with absolute ruin. The blow was felt for years in impaired credit, pressure for payment of dues, the lowering of securities and general dread of even safe enterprises. Savings were exhausted and many banks went under. The New York Stock Exchange closed its doors for ten days. Credit dried up, foreclosures were common. Factories closed, costing thousands of workerís their jobs. A startling 89 of the countryís 364 railroads crashed into bankruptcy. In two years, a total of 18,000 businesses failed and by 1876, unemployment in this country was at 14 percent.


    The public tended to blame President Grant and Congress for mishandling the economy. The causes, however, were much broader. The postwar period was one of frantic, unregulated growth with the government playing no role in curbing abuses. The extreme overbuilding of the nationís railroad system, more than any other single event, laid the groundwork of the Panic and the depression that followed. Recovery was not realized until 1878.


    In the end, the Panic brought bitter antagonism between labor and the leaders of banking and manufacturing. Workers all over the country, in response to wage cuts and poor working conditions, struck and prevented trains from moving. President Rutherford B. Hayes was forced to send federal troops to more than a half a dozen states to stop the strikes. When it was over the fighting between strikers and troops left more than 100 people dead and many more injured. This tension between labor and manufacturing lasted for decades after.
    It is far easier to spit on the work of others than it is to produce something better yourself.
    Brynmoors Prairie Sage JH ​(Sage) Just a dang fool huntin Dawg
    HRCH Calypso Seven Bales High SH (Bailey)
    HR Calypso Zoomin Loosies Mad Hader (Maddi) We loved you baby. R.I.P.
    FlatLanders Broken Pistol Ricochet SH (Flinch)


    My Christian Name is Michael Baker..
    I have gone by "Gooser" since I was a "gossling"

  2. #2
    Senior Member Gun_Dog2002's Avatar
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    Thank god I was afraid you were going to say you lost your pants again....

    /Paul
    Paul Cantrell
    Black Ice Retrievers
    Marcola OR

    Too many dogs to list (By some Bitch)

    https://www.facebook.com/BlackIceRetrievers
    http://gundog2002.blogspot.com/
    "Helping Hunters Train Their Dogs"

  3. #3
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    Quote Originally Posted by Gun_Dog2002 View Post
    Thank god I was afraid you were going to say you lost your pants again....

    /Paul


    That is less panic and more like a parole violation.

  4. #4
    Senior Member MooseGooser's Avatar
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    SEE FOLKS!!!

    This is the exact reason I NEVER try and be serious here!!

    Gooser
    It is far easier to spit on the work of others than it is to produce something better yourself.
    Brynmoors Prairie Sage JH ​(Sage) Just a dang fool huntin Dawg
    HRCH Calypso Seven Bales High SH (Bailey)
    HR Calypso Zoomin Loosies Mad Hader (Maddi) We loved you baby. R.I.P.
    FlatLanders Broken Pistol Ricochet SH (Flinch)


    My Christian Name is Michael Baker..
    I have gone by "Gooser" since I was a "gossling"

  5. #5
    Senior Member Gun_Dog2002's Avatar
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    Quote Originally Posted by MooseGooser View Post
    SEE FOLKS!!!

    This is the exact reason I NEVER try and be serious here!!

    Gooser
    The next time you try and get serious on here do too things.

    1. First ask yourself "where are my pants"
    2. Put them on....

    /Paul
    Paul Cantrell
    Black Ice Retrievers
    Marcola OR

    Too many dogs to list (By some Bitch)

    https://www.facebook.com/BlackIceRetrievers
    http://gundog2002.blogspot.com/
    "Helping Hunters Train Their Dogs"

  6. #6
    Senior Member Leddyman's Avatar
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    Hey Gooser,

    You been working out?
    Bad Motor Scooter SH

    He that tooteth not his own horn...The same shall not be tooted.

    There could be 5 or 6 ninjas in this room right now.

  7. #7
    Senior Member Uncle Bill's Avatar
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    Quote Originally Posted by MooseGooser View Post
    SEE FOLKS!!!

    This is the exact reason I NEVER try and be serious here!!

    Gooser
    What the hayel are you talkin' bout, Willis? There isn't a serious bone or or anything else in your body. You wearing your John Elway rabbit suit again? HEY!!, it's halloween season, not Easter.

    UB...wondering how he stumbled onto that web page? Someone must have punched it up while he was at the store replenishing his Cheetos.
    When the one you love becomes a memory, that memory becomes a treasure.

  8. #8
    Senior Member MooseGooser's Avatar
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    SEE!!!

    Its because all this happened in 1873!! Just a mere 90 sumpin years after the BIG July 4th day of 1776!!

    NOW it seems its all a happenin agin,, different, but similar! and agin We's a blamin a President!!---WOW!!!

    I think just a few years later,, a Federal reserve was started,, and laws put in place for the Government to help head off a problem like this from happenin agin!! Dont we still have sum a them laws???

    I sure wish theyd use em,, so I dont gotta watch my "lazy days" moneys go away!!

    I've worked hard,, and have a PAID OFF 1993 Toyota 2 wheel drive pick-up ready for those days for me to drive around and visit some!!
    (needs a fuel pump though)

    I budgeted moneys for food, clothes and ammo!! ($1200.00)

    I NOW have a balance of 1 million and fourty dollars set aside for GASoline!

    I dont wanna see that blow away!!

    Gooser
    It is far easier to spit on the work of others than it is to produce something better yourself.
    Brynmoors Prairie Sage JH ​(Sage) Just a dang fool huntin Dawg
    HRCH Calypso Seven Bales High SH (Bailey)
    HR Calypso Zoomin Loosies Mad Hader (Maddi) We loved you baby. R.I.P.
    FlatLanders Broken Pistol Ricochet SH (Flinch)


    My Christian Name is Michael Baker..
    I have gone by "Gooser" since I was a "gossling"

  9. #9
    Senior Member 1st retriever's Avatar
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    Quote Originally Posted by MooseGooser View Post
    SEE!!!

    Its because all this happened in 1873!! Just a mere 90 sumpin years after the BIG July 4th day of 1776!!

    NOW it seems its all a happenin agin,, different, but similar! and agin We's a blamin a President!!---WOW!!!

    I think just a few years later,, a Federal reserve was started,, and laws put in place for the Government to help head off a problem like this from happenin agin!! Dont we still have sum a them laws???

    I sure wish theyd use em,, so I dont gotta watch my "lazy days" moneys go away!!

    I've worked hard,, and have a PAID OFF 1993 Toyota 2 wheel drive pick-up ready for those days for me to drive around and visit some!!
    (needs a fuel pump though)

    I budgeted moneys for food, clothes and ammo!! ($1200.00)

    I NOW have a balance of 1 million and fourty dollars set aside for GASoline!

    I dont wanna see that blow away!!

    Gooser
    You may want to recalculate your budget there. I would go up to an even 2 million cuz you know gas is gonna go back up. Apparently from what I have read you should not keep it in your pants and you may also need a Cheeto fund!

  10. #10
    Senior Member MooseGooser's Avatar
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    So lets see!

    If people DO panic,, and there is a run on the banks, and they cant cover their accounts,, then the Government has them insured by FDIC.

    Now does that mean I will be able to call Mr. President on Monday Morning and expect a check by Tuesday?? My Mortgage is due on Wensday!!


    Seems to me the line for that will be longer than "free Banana split night " at Sonic!!


    And I just bet there would all of a sudden be a catch about how they were gonna figure a way to split all the moneys up "FAIRLY!!!


    I'm really NOT tryin to Panic,, but I'm gonna go out tomorrow, and shop for "King sized " bed mattreses for every room in the house!

    Gooser.

    P. S.
    UB,, I already has stocked up on 23 sealed cans of cheetoes! Theys in the Pantry right next to the POP Tarts!

    Gooser
    It is far easier to spit on the work of others than it is to produce something better yourself.
    Brynmoors Prairie Sage JH ​(Sage) Just a dang fool huntin Dawg
    HRCH Calypso Seven Bales High SH (Bailey)
    HR Calypso Zoomin Loosies Mad Hader (Maddi) We loved you baby. R.I.P.
    FlatLanders Broken Pistol Ricochet SH (Flinch)


    My Christian Name is Michael Baker..
    I have gone by "Gooser" since I was a "gossling"

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