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Anonymous asked in Social ScienceEconomics · 1 decade ago

Were Any of the "Panics" in 19th Century as bad as 1930s or Today?

I understand the Federal Reserve was set up in 1913 to avoid the "panics" that hit the US periodically in the prior century.

What were those "panics" and were any of them as devastating or as long-lasting than what the US and the world experienced in the 1930s and at the present time?

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