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Jun 7, 1498
The Columbian Exchange
When Christopher Columbus discovered America they started trading with Europe. Good economic prosperity. The Recovery of this had already took place before the Texans were involved. -
Import of African Slaves
When they started to export African Americans to America to work on the cotton and tobacco plantations. -
Navigation Law
Regulating the mercantilist system in colonial America transported only in British vessels. -
Sugar Act:
Increased the duty on foreign sugar imported, the law was passed to raise tax revenue in the colonies. -
The Panic of 1893
The Panic of 1893 was caused by the overbuilding and shaky financing of railroads. It made the gold supply run out and caused banks failures. J.P. Morgan and Co. found a way to solve this crisis. They bought gold from forgien investors for $112.25 and sold the entire issue within 22 minutes. -
Panic of 1907
The Panic of 1907 or the 1907 Banker's Panic was a three week period in the mid-October, when the New York Stock Exchange fell almost 50% from its peak a year ago. Many local banks and businesses went bankrupt because of this event. The panic was resolved with an invention by a guy named J. P. Morgan and other New York bankers to put their own money to shore up a banking system. That ended the Panic of 1907. -
World War 2
During this war, every nation involved in this war put entire economy, industrial, and scientific capabilities behind the war effort. This required more jobs to be made and let people get a job for 6 years. -
1990s United States Boom
It was an extended period of time during which GDP increased continuously for almost ten years. The unemployment during this time was 6% and GDP continued to grow with more jobs coming.
