Some Interesting Facts from
The Great Railroad Strike in Ohio
The Great Railroad Strike in Ohio
From Panic to Strike
Map of the Northern Pacifc Railroad
Library of Congress
Library of Congress
Chartered by Congress on July 2, 1864, the planned route for the North Pacific Railroad would connect Lake Superior at Duluth, Minnesota, to the Puget Sound at Tacoma in Washington Territory. America’s first investment bank, Jay Cooke & Co., stayed away from investing in it at the urging of its founder, Jay Cooke. In 1870, he changed his mind, and at that point the bank started to pour millions into the road, which turned into a money pit. Unable to sell bonds to investors, the bank was forced to close on Sept. 15, 1873. Its collapse sparked the Panic of 1873, which caused one of the United States’ worst economic depressions, one that lasted until 1879. This fact came from The Great Railroad Strike in Ohio by this website's creator, Mark Strecker. You can buy it at Amazon or from the History Press.
