The Panic of 1873 was a crisis brought on in part by the bursting of a bubble in speculative railroad investments and subsequent collapse of the railroad industry. The fallout spread throughout the economy, and unemployment and homelessness spiked. After several days of marches in New York City, with people pleading for government assistance, and amid escalating rumors of potential violence, the authorities decide to crack down.

On this day, 152 years ago, 1600 police — many on horseback — successfully use brutal violence to break up a gathering of 7000 women, men and children on the Lower East Side. The labor movement fades quickly after this, though the depression wears on for another five years. The police, meanwhile, increase their surveillance and harassment of groups deemed politically threatening.