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Which of the following is NOT TRUE of the Panic of 1873?
A. It was a local economic downfall that was quickly contained.
B. It was a severe nationwide economic depression which lasted until 1877.
C. It was precipitated by the bankruptcy of the Philadelphia banking firm: Jay Cooke and Company
D. It diverted the nation's attention away from Reconstruction. E. It was caused by over expansion of the railroads.

Respuesta :

The panic of 1873 was NOT a local downfall that was quickly contained.

Therefore according to the question, the correct option is A.

What was the Panic of 1873?

The Panic of 1873 was a financial crisis that resulted to what is referred to as an economic depression in Europe and North America.

 

This financial crises lasted from 1873 to 1877  and 1879 in France and in Britain.

   

In the United States, the Panic was known as the "Great Depression" while in Britain, the Panic resulted to two decades of stagnation known as the "Long Depression" which weakened the country's economic leadership.

Learn more about the Great depression at https://brainly.com/question/20513444

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