Banks of Albany - Albany, NY

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: May 25, 1837
Location: Albany, New York (42.653, -73.756)

Metadata

Model: gpt-5-mini
Short Digest: 5aec5e8f

Response Measures

None

Description

Article (May 25, 1837) reports that the 'Banks of Albany' suspended specie payments as part of a broader wave of suspensions. The report does not describe runs, receivership, or permanent closure; suspension is likely part of the nationwide Panic of 1837, and many such suspensions were temporary, so I classify as suspension_reopening. No specific single bank name is given (plural Banks of Albany).

Events (1)

1. May 25, 1837 Suspension

Cause: Macro News
Cause Details: Widespread suspension of specie payments amid the broader financial crisis (Panic of 1837); part of a regional/national wave of suspensions described in the article.
Newspaper Excerpt: the Banks of Albany and other places in the interior of New York have come into the measure
Source: newspapers

Newspaper Articles (1)

1. May 25, 1837 Staunton Spectator, and General Advertiser Staunton, VA

Article from Staunton Spectator, and General Advertiser, May 25, 1837

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Article Text

Accounts of the suspension of specie pay. ments by Banks are coming in from various quarters. It will be seen, by the intelligence in succeeding columns, that the Banks of Albany and other places in the interier of New York have come into the measure, and also the Banks in New Jersey, Providence, Hartford, and elsewhere. In the neighboring District of Columbia the Alexandria Banks have suspended, as well as the Patriotic Bank of Washington, and the Union Bank of Georgetown. The Farmers' and Mechanics' Bank of Georgetown honored all drafts made upon it on Friday, and the Bank of Washington has