In the United States, a great commercial panic occurs, commencing in New York with suspension of the Ohio Life & Mutual Trust Co. Panic spreads throughout the country, causing general suspension of banks; failures in the United States and Canada, five thousand one hundred and twenty-three; liabilities two hundred and ninety-nine million eight hundred thousand dollars. Completion of the Atlantic cable; messages received from London; public excitement and rejoicing in New York; cable fails after a few messages. People of Oregon Territory adopt a constitution prohibiting slavery. The "Dred Scott" decision by the Supreme Court nullifies the terms of the Missouri Compromise and similar measures, changing the status of the negro in the free States, as well as denying him all civic rights. This excites great indignation and consternation in the free States, further increasing the feeling against slavery. In Utah Territory the Mormons rebel against Federal authority; the President despatches troops under command of Colonel A.S. Johnston to enforce authority; most of the supply-teams attacked and destroyed by Brigham Young's Rangers, leaving the Federal forces exposed to the desert winter (see 1858). =RULERS--The same as in the previous year, except that in Prussia, the Prince of Prussia (afterward William I), becomes regent during the incapacity of Frederick William IV; and in the United States James Buchanan is inaugurated as President.= 1858 In the United States, the Mormons submit to Federal authority and allow Federal troops to be quartered in Utah Valley (withdrawn 1860). Minnesota is admitted to statehood (free State). Valuable commercial treaty made with China, by which travelers with passports are protected, foreign ministers recognized, new ports opened, Christianity tolerated, and missionaries protected. Discovery of gold at Pike's Peak, Colorado. Massacre of emigrants at Mountain Meadows, Utah. Rising prominence of Abraham Lincoln; he wins national reputation in struggle and debates with Douglas in Illinois in contest for the Senate. Kansas finally rejects the Lecompton Constitution, which had provided for safeguarding slavery. In Mexico, Comonfort retires as president; the clerical and reactionary party elects General Zuloaga. Juarez, Liberal, organizes a rival provisional government (see 1859).