The effects of an unusually large immigration joined hands
with the depression. The eighties were the banner decade of the entire
century for immigration. The aggregate number of immigrants arriving was
5,246,613--two and a half millions larger than during the seventies and
one million and a half larger than during the nineties. The eighties
witnessed the highest tide of immigration from Great Britain and the
North of Europe and the beginning of the tide of South and East European
immigration.
However, the depression of 1883-1885 had one redeeming feature by which
it was distinguished from other depressions. With falling prices,
diminishing margins of profit, and decreasing wages, the amount of
employment was not materially diminished. Times continued hard during
1885, a slight improvement showing itself only during the last months of
the year. The years 1886 and 1887 were a period of gradual recovery, and
normal conditions may be said to have returned about the middle of 1887.
Except in New England, the old wages, which had been reduced during the
bad years, were won again by the spring of 1887.
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