The United States had not attached enough importance to the outbreak of this economic crisis in its early stages, largely because of its previous experience in dealing with economic crises. From the late nineteenth century to the early twentieth century, the United States had also suffered several rounds of economic crises. Among them, the 1873 economic crisis had had a particularly great impact on the United States. This crisis not only dealt a heavy blow to the American economy at the time, but also triggered a prolonged economic depression, whose effects did not fully end until the close of the nineteenth century.
However, the special historical period in which the 1873 economic crisis occurred had failed to teach the American government a profound lesson. After all, the labor movement had not yet taken shape at the time. Even if a crisis broke out in capitalist countries, it would not trigger corresponding political and social crises.
During the outbreak of the 1873 economic crisis, although the lower classes of the United States struggled and resisted, their activities were like scattered stragglers and headless flies, and did not have a far-reaching impact on American social order. At the same time, following the expansion frenzy of the world's Imperialist countries at the end of the nineteenth century, the United States instead shifted some of the contradictions caused by the crisis outward, as with the Spanish-American War.
Of course, the country that benefited the most from the 1873 economic crisis was East Africa. This was also the only special period when East Africa absorbed large numbers of German descendants from the United States. One had to know that East Africa at the time was merely a colony with virtually no appeal whatsoever.
All in all, the 1873 economic crisis not only failed to prompt