economy, and southern threats of secession were temporarily quelled. Southerners believed that the Panic of 1857 made the North "more amenable to southern demands" and would help to keep slavery alive in the United States. According to Kathryn Teresa Long, the religious revival of 1857–1858 led by Jeremiah Lanphier began among New York City businessmen in the early months of the Panic. Crisis in the United Kingdom News of the crisis in America caused runs on the banks in Glasgow, Liverpool, and London. The Borough Bank of Liverpool closed its doors on October 27, 1857, and the Western Bank of Scotland failed on November 9 as did the City of Glasgow Bank two days later. The government was forced to suspend the Bank Charter Act of 1844 again on November 12. The bullion in the Bank of England started increasing soon after, but unlike the Panic of 1847, the suspension was required this time for the British currency to remain legal and convertible under the Bank Charter Act 1844. The fiduciary issue was temporarily increased to the extent of £2 million and was used between November 18 and December 23, 1857. See also Black Friday (1869)—Also referred to as the Gold Panic of 1869 Financial crisis Panic of 1873 Panic of 1893 New England Shoemakers Strike of 1860 Notes Bibliography Glasner, David, ed. Business Cycles and Depressions: An Encyclopedia 1997. Klein, Philip Shriver. President James Buchanan (Pennsylvania State University Press, 1962). Long, Kathryn Teresa. The Revival of 1857–58: Interpreting an American Religious Awakening Oxford University Press, 1998 online edition Read, Charles (2022). Calming the storms : the carry trade, the banking school and British financial crises since 1825. Cham, Switzerland. ISBN 978-3-031-11914-9. Rezneck, Samuel. Business Depressions and Financial Panics (Greenwood 1968). Ross, Michael A. Justice of Shattered Dreams: Samuel Freeman Miller and the Supreme Court During the Civil War Era . Baton Rouge: Louisiana State University Press, 2003. Van Vleck, George W. The Panic of 1857, an Analytical Study (New York: Columbia University Press, 1943) Contemporary newspaper "Commercial Affairs" New York Daily Times, August 28, 1857 "A New Tariff" New York Daily Times, February 4, 1857 External links Dickinson College. "House Divided." Accessed October 30, 2010 Visit to Dred Scott, 1857, Library of Congress Banking in the United States Economic crises in the United States Financial crises 19th-century economic history Presidency of James Buchanan 1857 in the United States 1857