From 1879 to 1882, there had been a boom in railroad construction which came to an end, resulting in a decline in both railroad construction and in related industries, particularly iron and steel. [25] A major economic event during the recession was the Panic of 1884 . 1887–88 recession. Mar 1887 –.
https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States

