 Documents in Year 1857
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Links of Interest:
Franklin Pierce, Fourteenth U.S. President(1853-1857)
March 3: On his last day in office, President Franklin Pierce signs the Atlantic Cable Act.
James Buchanan, Fifteenth U.S. President(1857-1861)
Transatlantic Cable (1857-1902)May 14: The U.S.S. Niagara, assigned to assist H.M.S. Agamemnon in laying the transatlantic cable, arrives in England.
August 10: the Niagara is buffeted by a wave and the
cable snaps and sinks to the ocean floor. With hundreds of miles of
cable lost, directors abort their attempts
for the year.
Financial Panic of 1857 - August 24: A leading New York bank suddenly collapses. The financial panic soon engulfs other financial institutions, and in September Wall Street crashes.
Failure of many U.S. banks and
railroads. Literature: Samuel Clemens (Mark Twain) working as a cub
for the Mississippi steamboats.
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