Hard times in Europe dried up investment from other countries

[Eartha]

Dear all,

How should I understand the underlined?

Thanks in advance.

Eartha

The depression that began in 1893 in many ways paralleled the downturn of 1873. In February 1893, the largest railroad company, the Philadelphia and Reading, went bankrupt. More railroads and other businesses went under. Unemployment percentages climbed into the teens. Hard times in Europe dried up investment from other countries.

 

[Khosro]

Dear all,

How should I understand the underlined?

Thanks in advance.

Eartha

The depression that began in 1893 in many ways paralleled the downturn of 1873. In February 1893, the largest railroad company, the Philadelphia and Reading, went bankrupt. More railroads and other businesses went under. Unemployment percentages climbed into the teens. Hard times in Europe dried up investment from other countries.

From webster:

dry up [phrasal verb]
1 : to become completely dry ▪ The river/well is drying up. ▪ The stream dries up every summer.
2 dry up (something) or dry (something) up : to make (something) dry ▪ The sun had dried up the roads an hour after it stopped raining.

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You can imagine "investment from other countries" as a stream which dried up. "dry up" is figuratively used here.

 

[Eartha]

From webster:

dry up [phrasal verb]
1 : to become completely dry ▪ The river/well is drying up. ▪ The stream dries up every summer.
2 dry up (something) or dry (something) up : to make (something) dry ▪ The sun had dried up the roads an hour after it stopped raining.

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You can imagine "investment from other countries" as a stream which dried up. "dry up" is figuratively used here.

Does it mean it was impossible for the U.S. to get investment from other country back at that time?

Thanks.

 

[birdeen's call]

When the companies went bankrupt, people needed new jobs. But Europe also had financial problems, so there was no one to make create jobs for them. Both American and European potential investors couldn't afford or were afraid to invest.

 

[Khosro]

Does it mean it was impossible for the U.S. to get investment from other country back at that time?

Thanks.

I think the underlined sentence is not about the U.S.A, but about europe. You might say "Impossible for europe". I am not sure about it because the whole text is not available to me.

If you suppose "investment" to be like a stream of money from other countries to europe then you will understand the sentence easily. Apart from that, "birdeen's call"s explaination clarifies the situation.

 

[5jj]

If you suppose "investment" to be like a stream of money from other countries to europe then you will understand the sentence easily.

I don't think that is very likely, especially as, in 1893, the general picture was for investment money to flow from Europe.

I think BC is right in her summary of the situation.

The sentence, to me, means:
Hard times in Europe dried up investment in the USA from other countries.
While the 'other countries are not specified they would have been, at the time, mostly European.

 

[Khosro]

Yes, you are both right. I haven't the necessary historical knowledge, but as it has come in a paragraph about America then you and birdeen's call must be both right.

 

[Barb_D]

My objection is to the word "impossible." I'd say "very difficult." I"m not prepared to say it didn't happen at all.

 

[Tdol]

Does it mean it was impossible for the U.S. to get investment from other country back at that time?

Thanks.

It was certainly very difficult indeed, but it doesn't necessarily mean that there was absolutely no investment, but definitely a very big drop.