Under chairman James Madison, the Committee of Territories puts forth a plan to govern the Northwest Territories. Most of the plan, including a ban on slavery, is later incorporated into the Northwest Ordinance of 1787.
Banks in New York City see a tremendous outflow (some estimates range as high as $700,000) of hard currency (gold and silver) as a result of the Specie Circular.
Coming out of Snake Creek Gap, General James McPherson runs into a Rebel force at Resaca that was stronger than expected. He returns to the gap rather than attack.
The Constitution Union Party, meeting in Baltimore, creates a platform taken heavily from the U. S. Constitution and selects John Bell of Tennessee for President and Edward Everett of Massachusetts for Vice-President. It represents southern Whigs and Know-nothings (American Party). Sometimes called the Bell-Union Party