The Long depression
As i continue to delve deeper and deeper into my research paper i adjust my topic to make for a more interesting and engaging paper for all to read. As of now i am focusing on the various causes for the long depression. the long depression is not as widely known as the infamous Great Depression but it still impacted the US greatly and the entire world's economy. The long depression was a global economic recession that lasted a couple of decade from 1873-1879/1896 (similarly to the great depression the exact ending date is uncertain do to the tremendous devastation it caused). in my paper i am going to look at what were the major causes of this extraordinary recession and i am going to focus on the Global silver industry and the plummeting prices of silver that lead to the coinage act of 1873 which banned civilians to mint their bullion into legal US coins also the act eliminated half dimes, 2 cent and 3 cent pieces. the second major cause i will look into is the failure of the reconstruction era after the American Civil War. the reconstruction age failed to meet its goals in many ways and it led to the major travesty of the long depression. lastly i will look at the completion of the intercontinental railroad. although this was an amazing accomplishment few people look at the events that led shortly after the completion. there were hundreds of thousands of unemployed personnel stretching from unneeded railroad workers to fewer miners for the needed metals and fewer factory workers to process these metals and so on and so on. all of these unemployed people hit america hard and created an even more devastating depression and took a very long time for the american and global economy to recover from.
i will be working on my 4,000-5,000 word essay over this coming year and it will be more specific but this is a brief summery and history for those who are unfamiliar with the topic. i hope you enjoy and i will post more updates throughout the year. i will be checking with the library for books they have on the subject of the long depression but if any of you have any documents or sources feel free to share
Great blog! Good luck with your project!
Well worn Copper
Everyone thinks that living thru the Civil War was hell, but from coinage we know that hard times lingered around for quite some time thereafter. You have embarked on an interesting subject and an interesting time. Good luck with it.
You are doing a great job so far. Keep it up and you will have no problem. Just stay with it. Don't let it get ahead of you! Thanks..
wow 4,000-5,000 words,hope it works out okay.
Sounds like an interesting project. It should be fun to research. I would be willing to bet that the ANA librarian could suggest some titles.
Historical events help collectors appreciate coin history more. Good luck with yr project.
Good luck with the paper. You are learning a lot about how economic downturns have effect on coinage.
Lots of luck just take your time an organization will help. You can do it. Mike.