The Panic of 1884 was an economic panic during the Depression of 1882–1885. It was unusual in that it struck at the end rather than the beginning of the recession. The panic created a credit shortage that led to a significant economic decline in the United States, turning a recession into a depression.

Ferdinand De Wilton Ward, Jr. (1851–1925), known first as the "Young Napoleon of Finance," and subsequently as "the Best-Hated Man in the United States," was an American swindler. The collapse of his Ponzi scheme caused the financial ruin of many people, including famous persons such as Thomas Nast and the former U.S. President Ulysses S. Grant, who had joined his son, Ulysses S. "Buck" Grant. Jr., as a partner in Ward's banking business. Heavy losses were incurred by many other members of the extended Grant family.