Gründerzeit was the economic phase in 19th-century Germany and Austria before the great stock market crash of 1873.
Historicist building by Arwed Roßbach in Leipzig, Germany (1892)
Gründerzeit primarily refers to the entrepreneurial boom of late 19th-century Germany; machine and locomotive ironworks of Borsig AG in Berlin's Feuerland, 1847 painting by Karl Eduard Biermann
Historicist architecture in Nordstadt in Hanover
Leipzig
The Panic of 1873 was a financial crisis that triggered an economic depression in Europe and North America that lasted from 1873 to 1877 or 1879 in France and in Britain. In Britain, the Panic started two decades of stagnation known as the "Long Depression" that weakened the country's economic leadership. In the United States, the Panic was known as the "Great Depression" until the events of 1929 and the early 1930s set a new standard.
A bank run on the Fourth National Bank No. 20 Nassau Street, New York City, from Frank Leslie's Illustrated Newspaper, 4 October 1873
Black Friday, 9 May 1873, Vienna Stock Exchange
New York police violently attacking unemployed workers in Tompkins Square Park, 1874