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The Panic of 1857 caused financial panic throughout the United States when the New York City branch of Ohio Life Insurance and Trust Co. failed. That caused a sudden recession in the economy, but recovery came quickly afterward.   

The Panic of 1857 caused financial panic throughout the United States when the New York City branch of Ohio Life Insurance and Trust Co. failed. That caused a sudden recession in the economy, but recovery came quickly afterward.   

In 1858, Lincoln said in a speech before the Republican state convention:  "a house divided against itself cannot stand," quoting the Bible.  He copied the application of this concept to slavery from many others who had used it previously.  Lincoln's words were prophetic.  But Douglas, a wittier speaker, elicited a chuckle from another crowd when he said he would speak without claiming to have special authority from God.

In 1858, Lincoln said in a speech before the Republican state convention:  "a house divided against itself cannot stand," quoting the Bible.  He copied the application of this concept to slavery from many others who had used it previously.  Lincoln's words were prophetic.  But Douglas, a wittier and more effective public speaker than Lincoln was, elicited a chuckle from another crowd when he said he would speak without claiming to have special authority from God.

Meanwhile, two new states were added to the Union while Buchanan served as president: Minnesota was admitted in 1858, and Oregon was admitted in 1859.

Meanwhile, two new states were added to the Union while Buchanan served as president: Minnesota was admitted in 1858, and Oregon was admitted in 1859.