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The Panic of 1873 has a significant impact on American politics and society. Politics has changed dramatically since the beginning, and we can examine the causes and effects of political movements, shifts within parties, and the influence of elections and policies over the years. Historians can examine this economic crisis in its most profound form
The emergence of money is a market phenomenon. By surrendering fewer marketable goods for more marketable goods, individuals move closer to the goods they ultimately wish to consume but cannot acquire through direct exchange. The most marketable goods become common media of exchange (i.e., money).