April, 1874.—The President’s veto of the inflation bill unsettled prices and caused depression. The bears raided the market, causing a heavy decline, but a quick recovery followed.
February, 1875.—Wabash went in the hands of a receiver.
May, 1875.—A receiver for Erie was appointed.
July, 1875.—Duncan, Sherman & Co. failed.
August, 1875.—The Bank of California failed. Cashier Ralston committed suicide.
March, 1876.—Jay Gould made his famous attack on Western Union.
April, 1876.—The National Bank of the State of New York failed.
November, 1876.—Many savings banks failed.
January, 1877.—Commodore Vanderbilt died on the 4th.
February, 1877.—Jersey Central went into the hands of a receiver.