Union Bank - Dover, NJ

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: December 1, 1849
Location: Dover, New Jersey (40.884, -74.562)

Metadata

Model: gpt-5-mini
Short Digest: 478e6c11

Response Measures

Accommodated withdrawals

Description

Newspaper (Dec 6, 1849) reports an attempt to discredit the bank's bills and 'something of a run' occurred; prompt redemption of all paper reassured the public and the bank remained in confidence. National banks did not exist in 1849, so 'state' is the most likely charter type.

Events (1)

1. December 1, 1849 Run

Cause: Rumor Or Misinformation
Cause Details: An attempt was made to discredit the bank's bills (rumors/misrepresentation), triggering withdrawals; prompt redemption corrected fears.
Measures: Prompt redemption of all paper presented by the bank to reassure public confidence.
Newspaper Excerpt: an attempt has been made to discredit the bills of this Bank, and something of a run upon the institution has taken place ; but the prompt redemption of all the paper presented, re-assured the public mind, and the bank retains...the confidence of the people.
Source: newspapers

Newspaper Articles (1)

1. December 6, 1849 Jeffersonian Republican Stroudsburg, East Stroudsburg, Milford, PA

Article from Jeffersonian Republican, December 6, 1849

Click image to open full size in new tab

Article Text

Union Bank, at Dover, N. J. The Susex Register of the 1st inst., says an attempt has been made to discredit the bills of this Bank, and something of a run upon the institution has taken place ; but the prompt redemption of all the paper presented, re-assured the public mind, and the bank retains, as it doubtless deserves, the confidence of the people.