Bank of Wadesboro - Wadesboro, NC

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: December 1, 1857*
Location: Wadesboro, North Carolina (34.968, -80.077)

Metadata

Model: gpt-5-mini
Short Digest: ce72bfff

Response Measures

None

Description

Newspaper (Dec 22, 1857) reports the Bank of Wadesboro has 'suspended specie payments' amid the 1857 financial disturbances. No mention of a depositor run or of permanent failure; given the 1857 panic many banks temporarily suspended specie payments and later resumed, so I classify this as a suspension with likely reopening. If stronger evidence of permanent closure/receivership appears, classification should be updated.

Events (1)

1. December 1, 1857* Suspension

Cause: Macro News
Cause Details: Suspension of specie payments amid the wider 1857 financial panic (reports circulating in neighboring papers).
Newspaper Excerpt: the Bank of Wadesboro', N. C., has suspended specie payments.
Source: newspapers

Newspaper Articles (1)

1. December 22, 1857 The Western Democrat Charlotte, NC

Article from The Western Democrat, December 22, 1857

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Article Text

"The Cheraw papers say that the Bank of Wadesboro'. N. C., has suspended specie payments. Friend Democrat. is not this "the last of the Mohicans" in your State ? We are curious to know if any specie can be got from any of the Banks up your way. We suppose, of course, the Mint has not suspended.-Chester Standard. We have seen no announcement of the suspension of the Bank of Wadesboro', but if it has suspended, the Standard is informed that there are yet some specie paying Banks in the State. The Bank of Fayetteville has not suspended. We hear no one up this way complaining from the want of specie--we had rather have N. C. Bank notes than specie. You do well, friend Standard, to inquire elsewhere than at home for specie; for we strongly suspect if you get any at present from S. C. Banks, you will have to break in and take it.