While most people appreciate the Statue of Liberty today, during its construction in the 1870s, many Americans were critical of the project.
Some took issue with the fact that Bartholdi was French.
They believed that American monuments should be designed and constructed by Americans.
Others felt that the statue wasn’t much of a gift since it required Americans to foot the bill for the pedestal.
After the Panic of 1873, America fell into a deep economic depression that lasted through much of the 1870s.
(During an economic depression people spend less money and it is harder to find jobs.)
Because the nation was going through a depression, many Americans thought that money should not be spent to support a giant French statue.
I think most Americans would now agree that it was a good investment.