Which of the following 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.

Question

Social Studies

Nicholas Carson

28 September, 01:08

Which of the following 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.

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Answers (1)

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Tamara Hughes · Answer 1

The correct answer should be the closing of the Reading Railroad.

Since the Reading Railroad went into receivership, many banks that depended on the railroad company's income started going bankrupt and failing at business endeavors which led to their closing which caused the Panic of 1893.

Which of the following 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.

Which of the following 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.