These disasters. though mere easily computed than many others and larger in amount than any other single class. are probably little more than fair specimens of the widespread calamities. Many manufactures. notably those of iron. cotton. and wool. were suspended or put on short time. Laboring men and women were thrown out of work to an extent previously unknown in the history of our country. immigration. that prolific source of our prosperity. decreased. multitudes returned to Europe to spread abroad in every land the tidings of their lisappointments and deter others from embarking. and the number of bankruptcies in 1873. as also in 1874. exceeded that ever before known. except in 1861. the year when the memorable destruction of trade and capital was caused by the war. From that time to this the commercial confidence necessary to the employment of labor has been impaired. and IV47 the poverty of the masses and crime have increased beyond all former precedent. In addition to other burdens. we sustained in 1871 and 1872 losses by fire in the cities of Chicago and Boston amounting to $300.000.00 . an amount of wealth as irretrievably lost as if it had been swallowed in chasms caused by earthquakes or thrown into the midst of the ocean.
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