1857 169 years ago Historical Events August 24

The Panic of 1857 begins, setting off one of the most severe economic crises in United States history.

On August 24, in the year 1857, The Panic of 1857 begins, setting off one of the most severe economic crises in United States history. This event is recorded as a Historical Events event in the history of August 24, one of 415 recorded events on this date across all of history.

The Panic of 1857 was a financial crisis in the United States caused by the declining international economy and over-expansion of the domestic economy. Because of the invention of the telegraph by Samuel F. Morse in 1844, the Panic of 1857 was the first financial crisis to spread rapidly throughout the United States. The world economy was more interconnected by the 1850s, which made the Panic of 1857 the first worldwide economic crisis. In the United Kingdom of Great Britain and Ireland, the First Palmerston ministry circumvented the requirements of the Bank Charter Act 1844, which required gold and silver reserves to back up the amount of money in circulation. Surfacing news of this circumvention set off the Panic in Britain.

Key Facts

  • This event took place on August 24, 1857 (AD era).
  • It is categorised as a Historical Events event in recorded history.
  • Referenced in 1 Wikipedia article.
  • Wikipedia source last updated on 25 July 2026.

On This Date in History 415

Type Year Date Event
Notable Deaths 2024 Aug 24 Christoph Daum, German footballer and manager (born 1953)
Historical Events 2023 Aug 24 Japan officially begins discharging treated radioactive water from the Fukushima Daiichi Nuclear Power Plant into the…
Notable Deaths 2023 Aug 24 Bray Wyatt, American wrestler (born 1987)
Notable Deaths 2021 Aug 24 Charlie Watts, English musician (born 1941)
Historical Events 2020 Aug 24 Erin O'Toole is elected leader of the Conservative Party of Canada.
Notable Deaths 2020 Aug 24 Gail Sheehy, American author, journalist, and lecturer (born 1936)
Historical Events 2017 Aug 24 The National Space Agency of Taiwan successfully launches the observation satellite Formosat-5 into space.
Notable Deaths 2017 Aug 24 Jay Thomas, American actor, comedian, and radio talk show host (born 1948)
Historical Events 2016 Aug 24 An earthquake strikes Central Italy with a magnitude of 6.2, with aftershocks felt as far as Rome and Florence. Around…
Historical Events 2016 Aug 24 Proxima Centauri b, the closest exoplanet to Earth, is discovered by the European Southern Observatory.
Notable Deaths 2016 Aug 24 Walter Scheel, German politician, 4th President of Germany (born 1919)
Notable Deaths 2015 Aug 24 Charlie Coffey, American football player and coach (born 1934)
Notable Deaths 2015 Aug 24 Joseph F. Traub, German-American computer scientist and academic (born 1932)
Notable Deaths 2015 Aug 24 Justin Wilson, English racing driver (born 1978)
Historical Events 2014 Aug 24 A magnitude 6.0 earthquake strikes the San Francisco Bay Area; it is the largest in that area since 1989.
Notable Deaths 2014 Aug 24 Richard Attenborough, English actor, director, producer, and politician (born 1923)
Notable Deaths 2014 Aug 24 Antônio Ermírio de Moraes, Brazilian businessman (born 1928)
Notable Deaths 2013 Aug 24 Gerry Baker, American soccer player and manager (born 1938)
Notable Deaths 2013 Aug 24 Nílton de Sordi, Brazilian footballer and manager (born 1931)
Notable Deaths 2013 Aug 24 Julie Harris, American actress (born 1925)
Notable Deaths 2013 Aug 24 Muriel Siebert, American businesswoman and philanthropist (born 1928)
Historical Events 2012 Aug 24 Anders Behring Breivik, perpetrator of the 2011 Norway attacks, is sentenced to 21 years of preventive detention.
Notable Deaths 2012 Aug 24 Dadullah, Pakistani Taliban leader (born 1965)
Notable Deaths 2012 Aug 24 Pauli Ellefsen, Faroese surveyor and politician, 6th Prime Minister of the Faroe Islands (born 1936)
Notable Deaths 2012 Aug 24 Steve Franken, American actor (born 1932)
Notable Deaths 2012 Aug 24 Félix Miélli Venerando, Brazilian footballer and manager (born 1937)
Notable Deaths 2011 Aug 24 Seyhan Erözçelik, Turkish poet and author (born 1962)
Notable Deaths 2011 Aug 24 Mike Flanagan, American baseball player, coach, and sportscaster (born 1951)
Historical Events 2010 Aug 24 In San Fernando, Tamaulipas, Mexico, 72 illegal immigrants are killed by Los Zetas and eventually found dead by…
Historical Events 2010 Aug 24 Henan Airlines Flight 8387 crashes at Yichun Lindu Airport in Yichun, Heilongjiang, China, killing 44 out of the 96…
Historical Events 2010 Aug 24 Agni Air Flight 101 crashes near Shikharpur, Makwanpur, Nepal, killing all 14 people on board.
Notable Deaths 2010 Aug 24 Satoshi Kon, Japanese director and screenwriter (born 1963)
Historical Events 2008 Aug 24 Sixty-five passengers are killed when Iran Aseman Airlines Flight 6895 crashes during an emergency landing at Manas…
Historical Events 2008 Aug 24 A Cessna 208 Caravan crashes in Cabañas, Zacapa, Guatemala, killing 11 people.
Notable Deaths 2007 Aug 24 Andrée Boucher, Canadian educator and politician, 39th Mayor of Quebec City (born 1937)
Notable Deaths 2007 Aug 24 Aaron Russo, American director and producer (born 1943)
Historical Events 2006 Aug 24 The International Astronomical Union (IAU) redefines the term "planet" such that Pluto is now considered a dwarf planet.
Notable Deaths 2006 Aug 24 Rocco Petrone, American soldier and engineer (born 1926)
Notable Deaths 2006 Aug 24 Léopold Simoneau, Canadian tenor and educator (born 1916)
Selected Events 2006 Aug 24 The International Astronomical Union passed a resolution redefining the term planet and classifying Pluto as a dwarf…
Notable Deaths 2005 Aug 24 Jamshed Ansari, Pakistani film, television and radio actor (born 1942)
Historical Events 2004 Aug 24 Ninety passengers die after two airliners explode after flying out of Domodedovo International Airport, near Moscow.…
Notable Deaths 2004 Aug 24 Elisabeth Kübler-Ross, Swiss-American psychiatrist and academic (born 1926)
Notable Deaths 2003 Aug 24 Wilfred Thesiger, Ethiopian-English explorer and author (born 1910)
Notable Deaths 2002 Aug 24 Nikolay Guryanov, Russian priest and mystic (born 1909)
Historical Events 2001 Aug 24 Air Transat Flight 236 loses all engine power over the Atlantic Ocean, forcing the pilots to conduct an emergency…
Notable Births 2001 Aug 24 Mildred Maldonado, Mexican rhythmic gymnast
Notable Deaths 2001 Aug 24 Jane Greer, American actress (born 1924)
Notable Deaths 2001 Aug 24 Roman Matsov, Estonian violinist, pianist, and conductor (born 1917)
Notable Births 2000 Aug 24 Griffin Gluck, American actor

This article draws on content from Wikipedia, available under CC BY-SA 4.0.

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