5 centuries of bubbles and bursts

History is replete with financial frenzies that seem ridiculous in hindsight, but were viewed as anything but at the time.

4 of 13

1860-73: Railroads

• Coming down with gold fever

Railroad construction zoomed after the Civil War. Railroad stocks would make up as much as 40% of the total market capitalization of the NYSE. A financial panic in 1873 led to dozens of lines going bankrupt.

NEXT: 1890s: Bicycles

Last updated January 06 2010: 5:25 PM ET

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