Panic 1857 facts
While investigating facts about Panic 1857, I found out little known, but curios details like:
The sinking of the SS Central America (aka Ship of Gold which contained 30,000 lbs of Gold) in a hurricane, contributed to the first world-wide financial crisis (Panic of 1857).
The Panic of 1857, considered the world's first global financial crisis, caused by the collapse in value of railroad companies
In my opinion, it is useful to put together a list of the most interesting details from trusted sources that I've come across. Here are 4 of the best facts about Panic 1857 I managed to collect.
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The SS Central America. It carried gold bars and mint coins between the San Francisco mint and New York banks. It sunk in a hurricane in 1857, causing a loss of $2 million USD (modern equivalent of $292 million). This loss helped spark the Panic of 1857.
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The sinking of the S.S. Central America, a ship loaded with gold from the California gold rush, contributed to the Panic of 1857, an economic crisis that effected countries worldwide.
