Street railways became common in our largest cities before 1860, the first in New England, that between Boston and Cambridge, dating from 1856. Sleeping-cars began to be used in 1858. The express business went on developing, being opened westward from Buffalo first in 1845. A steam fire-engine was tried in New York in 1841, but the invention was successful only in 1853. Baltimore used one in 1858. Goodyear triumphantly vulcanized rubber in 1844, making serviceable a gum which had been used in various forms already but without ability to stand heat. Elias Howe took out his first patent for a sewing machine in 1846, being kept in vigorous fight against infringements for the next eight years. The anaesthetic power of ether was discovered in 1844. Gutta-percha was first imported hither in 1847. The first application of the Bessemer steel process in this country was made in New Jersey in 1856, the manufacture of watches by machinery begun in 1857, photo-lithography in 1859. New York had a clearing house in 1853, Boston in 1855. The petroleum business may with propriety be dated from 1860, although the existence of oil in Northwestern Pennsylvania had been long known, and some use made of it since 1826. For several years experiments had been making in refining the oil. The excellence of the light from it now drew attention to the value of the product, wells began to be bored and oil land sold for fabulous prices. [Illustration: Portrait.] Cyrus W. Field. [Illustration: Several men tending a large machine on the deck of a ship.] Paying out Cable Gear. From Chart House. We close this chapter with a word about the painful financial crisis that swept over the country in the autumn of 1857. Its causes are somewhat occult, but two appear to have been the chief, viz., the over-rapid building of railroads and the speculation induced by the prosperity and the rise of prices incident to the new output of gold. Interest on the best securities rose to three, four, and five per cent. a month. On ordinary securities no money at all could be had. Commercial houses of the highest repute went down. The climax was in September and October. The three leading banks in Philadelphia suspended specie payments, at once followed in this by all the banks of the Middle States, and upon the 13th of the next month by the New York banks. Manufacturing was very largely abandoned for the time, at least thirty thousand operatives being thrown out of work in New York City alone. Prices even of agricultural produce fell enormously. Tramps were to be met on every road. Easier times fortunately returned by spring, when business resumed pretty nearly its former prosperous march. [Illustration: Cross section of cable; central conductor is about .25 inches in diameter; it is surrounded by layers of insulation and twelve .5 inch wires for protection.] Shore End of Cable-exact size. [Illustration: Barnacles on Cable.] PERIOD IV. CIVIL WAR AND RECONSTRUCTION 1860-1868