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{{infobox| image = [[File:.]]}}<p>The Panic of 1857 was a nation economic depression caused,&nbsp;principally, by Europe's declining purchase of American agricultural products. </p> <p>During the Crimean War in Europe, many European men left their lives as farmers to enlist in the military. This resulted in many European countries depending upon American crops to feed their people. With the end of the Crimean War, agricultural production in Europe increased dramatically, as former soldiers returned to their lives as farmers. </p> <p>With declining income from agriculture, many Americans became worried at news that an Ohio corporation, Cincinnati's Ohio Life Insurance and Trust Company, had ceased operation. Thanks to the telegraph, news quickly spread across the United States of this business failure. Investors in the Ohio Life Insurance and Trust Company lost all of their funds invested in this company, leaving many people destitute. Fearing that a similar situation might happen to them, investors in other companies, already facing declining agricultural profits, withdrew their funds from these other businesses. Numerous businesses failed as a result of the investors' actions, and thousands of workers became unemployed. </p>

*[[Ohio Life Insurance and Trust CompanySalmon P. Chase]]

[[Category:History Events]][[Category:Early Statehood]][[Category:Business and Industry]][[Category:Government and Politics]]