Commercial Bank - Natchez, MS

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: May 23, 1837
Location: Natchez, Mississippi (31.560, -91.403)

Metadata

Model: gpt-5-mini
Short Digest: f740cd9a

Response Measures

None

Description

Article (Southern Telegraph, May 30, 1837) reports the Commercial Bank of Natchez has also been compelled to follow suit and stop specie payments amid the broader Panic of 1837. No mention of a depositor run or of reopening; the suspension appears driven by macro banking panic. The permanence of the closure is not stated; classification as suspension_closure is conservative given no evidence of reopening in the provided text.

Events (1)

1. May 23, 1837 Suspension

Cause: Macro News
Cause Details: Part of widespread stoppage of specie payments during the Panic of 1837; referenced U.S. Bank and other banks suspending payment.
Newspaper Excerpt: The Commercial Bank of Natchez has also been compelled to follow suit.
Source: newspapers

Newspaper Articles (1)

1. May 30, 1837 Southern Telegraph Rodney, MS

Article from Southern Telegraph, May 30, 1837

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Article Text

BY THE EXPRESS MAIL. Advertiser, Extra-Grund Gulf, May 23, 1837. WORSE AND WORSE! U. S. BANK STOPPED PAYMENT!!! To meet the great anxiety generally felt by all classes of our leaders, respecting the monetary concerns of the Union, we delay not a moment in presenting them with the latest intelligene on the subject, which reached us this rooming by Express Mail, through the vigilant attention of our New Orleans correspondent. We have also rumors, but nothing certain, that the Ohio banks have suspended payment. The Commercial Bank of Natchez has also been compelled to follow suit. No:hing late from Texas. DREADFUL CONDITION. It is stated in the New York paper of the 10th inst. that fully FIFTEEN THOUSAND mechanics and others in the city of New York, are in an actual state of starvation, for the want of the means to purchase the common articles of sustenance. BANK OF ENGLAND. It is the prevailing opinion among the "knowing ones" in the city of New York, that the Bank of England will suspend specie payment. We do not doubt.