The great depression, the panic of 1874(cant remember exact number )

If you mean 1929, they sucked it up, and lived on the cash in their jars.

scukin it up eh?

that bailout doesnt seem like sucking it up to me.

seems like taking more of a drug to avoid the comedown, only to have that comedown become even worse because you were high longer.

welcome to the end of the credit addiction.

I was speaking of the citizens, not the rulers...

There was an economic depression in the late 19th century between 1873 and 1896 which was referred to as the Great Depression before the occurrence of the latter, more devastating economic depression of the 1930's. It affected Europe and North America and probably other parts of the world as well. Britain was particularly hard hit by this depression and lost much of its industrial lead to Continental Europe during this time.
http://en.wikipedia.org/wiki/Long_Depression

No, he actually does mean 1874. There was a depression just after the civil war. It was mostly caused by Germany abandoning the silver standard but was contributed to (in the US) by over-extension in capital by the railroad industry. Try Wiki for a decent write up of this.

It only lasted till 1879 not 1896:
From Wiki "The Panic of 1873 was a financial crisis which triggered a severe international economic depression in both Europe and the United States that lasted until 1879"
In most countries (Europe and US) it was well over by 1879 but some countries it lasted longer.
Makes you wonder with all the safeguards we have in place in the US tp alleviate the pain of this type of occurence why this current recession has lasted almost as long as the former and currently designated "Great Depression". When will the left ever learn that you don't buy your way out of a recession. Even FDR's secretary of the treasury (Henry Morgenthau) said that their spending tactics in order to buy them out of the depression didnt work and left the American people with a huge debt "to boot". The Obama administration is so arrogant to believe they can bypass the laws of economics to "fix" things.