On the record
The country was not exhausted and depleted as it was after the panic of 1837, but the business community had no courage, energy was paralyzed, and new enterprises were at a stand-still.
Source
gutenberg.orgJames Blaine: “The country was not exhausted and depleted as it was after the panic of 1837, but the business community had no courage…”
Editor's note · Context
Blaine contrasts the economic conditions following the 1857 panic with those after the 1837 panic, noting a lack of entrepreneurial spirit.
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