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Black Hills Gold Rush
Over-investment in railroads and credit crisis leads to failure of
Jay Cooke & Co.
System of sharecropping develops in the South
Discovery of Gold
in the Black Hills
Lakota Sioux losing Black Hills and eventual defeat by U.S. government
Completion of the Transcontinental Railroad helps fuel a great railroad boom, opening up the West.
Near-decade long depression: 89 of 364 railroads close. 18,000 businesses fail. Unemployment reaches nearly 15%
Cotton Prices Fall By 50% from 1872-1877
Millions of African Americans and poor whites stuck in a cycle of poverty
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