Do you understand why today they call the events of the 1800's "Depressions"?
Here's a clue....
GNP (million)
1807 $511 -> 1809 $433 DEPRESSION of 1807-1814
1817 $591 -> 1824 $455 Panic of 1819 6 Year DEPRESSION, Foreclosures, bank failures, Wages fall
1827 $530 -> 1830 $499
1832 $560 -> 1833 $504 Panic and DEPRESSION, unemployment 10%, 33% in NYC.
1842 $638 -> 1844 $577 DEPRESSION of 1837-1844, 40% of banks fail
1847 $725 -> 1850 $606
1857 $836 -> 1859 $712 PANIC Unemployed riot. 5000 banks fail
1873 $1247 -> 1879 $1112 DEPRESSION of 1873-1878, unemployment 14%, 18,000 businesses fail,
1893 $1289 -> 1898 $1455 "More than 15,000 businesses failed, 500 banks closed, and unemployment remained over 10% for five years, making this the worst U.S. depression up until the Great Depression."
Does this look like "slowed growth" to you? The only one that even comes close is the Depression of 1893 which saw increases in GDP despite 5 years of unemployment at 10%
First, I question that data.
Seriously, do you think they had the equipment,software, to collect that, in those days?
Anyway, what I do like is the quick, short time frame of economic disruption. Unlike the the post Federal Reserve act and, what, near three years into our ‘depression’, which might last another ten, or more. 13+ years, near a generation. Yeah! Supper. I’ve read that the firs Federal Reserve Depression was from 1929 to 1945. Nice. That’s 16 years. Why, I’m an idiot to want to go back to an era of one year depressions. God forbid we trade that for decade plus Depressions.