Panic of 1857 sets off severe economic crisis 160 years ago #OnThisDay #OTD (Aug 24 1857)


Video: 'Panic of 1857'

(Monday, August 24, 1857) — The Panic of 1857 began today when the president of Ohio Life Insurance and Trust Company announced that its New York branch had suspended payments, setting off one of the most severe economic crises in United States history.