14700. Banks of Albany (Albany, NY)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
December 30, 1861
Location
Albany, New York (42.653, -73.756)

Metadata

Model
gpt-5-mini
Short Digest
8f73bfae

Response Measures

None

Description

Multiple newspapers report that the banks of Albany suspended specie payments on Dec 30, 1861 in consequence of New York banks' suspension. There is no mention of runs, receivership, or permanent closure; this appears to be a general suspension tied to actions of other (New York) banks and thus likely temporary (reopening).

Events (1)

1. December 30, 1861 Suspension
Cause
Local Banks
Cause Details
Suspended specie payments in consequence of the suspension by New York banks (action of larger correspondent/local banks).
Newspaper Excerpt
In consequence of the action of the New York banks, the banks of this city suspended specie payments to-day. The suspension occasions no excitement.
Source
newspapers

Newspaper Articles (6)

Article from The New York Herald, December 31, 1861

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Article Text

NEW YORK HERALD, TUESDAY, DECEMBER 31, 1861.-TRIPLE SHEET. mand of England, and surrenderd James M. Mason and stroyed by fires in the loyal and secoded States respective. LAST OF THE PATRIOTS OF THE REVOLUTION. THE PORT R John Slidell, rebel commissioners, and E. J. MacFarland and ly, as exhibited in the foregoing record:George Eustes, their secretaries. Seceded States. Loyal States. Names of the Heroes who have Died DuGeneral Prentiss, with four hundred and fifty men 210,000 January $1,210,000 encountered and dispersed nine hundred rebels, under ing the Past Year. 60,000 February 352,000 Colonel Dorsey, at Mount Sion, Boone county, Missouri, March 385,000 On the 1st of July last there were butsixty names 880,000 Official Report of killing and wounding one hundred and fifty, and capturApril 250,000 312,000 of Revolutionary pensioners left upon the rolls in the Pen" ing thirty-five prisoners, ninety-five horses and one hun445,000 May 685,000 dred and five guns. Our loss was only three killed and North 1 sion Office at Washington. Probably not over fifty are June 305,000 960,000 eleven wounded. now living. We give a list of the names of those who 35,000 July 1,558,000 29th-A slight skirmish occurred in Adair county, 500,000 August 722,000 have died during the year, as far as we [have been able Ky., in which the rebels lost Ave killed. No loss on the September 40,000 750.000 to collect them Union side. -October 310,000 Capt. Davis' Re Massachusetts Joseph Holmes November 100,000 30th-The people of the United States exhibited un580,000 John Barkhalter Georgia December 7,000,000 mistakeable signs of satisfaction at the happy termination 341,000 Blocking Up of Vermont Cornetius Bracoy of the misunderstanding and threatened difficulties beMichigan Hooper Bishop Total €,330,000 tween this country and Great Britain, in relation to the $8,690,000 Maine James W. Head Mason and Slidell affair. Add to the above the value of property destroyed by Jacob Rhodes Maine The banks of New York, Philadelphia, Albany and BosEngagement Between Foster Webster Maine fires in the United States during the year where in each ton suspended specie payments. Joel McGregory New Hampshire instance the loss was estimated at less than twenty thou31st-The army of the United States at this date was Samuel Yendell Tatnall's Massachusetts made up of the following forces:sand dollars, and also the value of property destroyed in Volunteers 640,637 the South and West, such as the destruction of the pro&c., Regulars 20,334 ducts of Southern plantations, the burning of railroad and PASSAGES OF CALIFORNIA STEAMERS IN 1861. Total 660,971 other bridges, together with private houses, barns, hay REPORT OF THE El The effective force of the navy, not including vessels stacks, &c., which have been destroyed by order of miliAmount of Treasure. on the stocks or unfit for service was as follows:TO


Article from The New York Herald, December 31, 1861

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Article Text

IMPORTANT FROM BOSTON. The Steamship Niagara to Take the Rebel Commissioners to England. BOSTON, Dec. 30,1861. It was reported here this morning that, by instruction from Lord Lyons, the steamship Niagara, which arrived here on Saturday, will leave to-morrow (Tuesday) for Liverpool, taking out in her Messrs. Mason and Slidell, the rebel Commissioners, and their secretaries. But it is by no means certain that the Niagara will be despatched to Liverpool with Mossrs. Mason and Slidell on board. The agents of the Niagara here deny that they have instructions to that effect. Another report was in circulation this afternoon that the agents of the Cunard steamers in this city have given orders to have the Niagara in readiness to sail for Liverpool at noon on Tuesday, the 31st inst., but nothing has as yet been received from Lord Lyons in regard to Messrs. Mason and Slidell going out in her. The agents probably expect to receive some orders to that effect by mail tomorrow morning. The Niagara took in coal to-day, to make room for the steamship Persia, soon expected here, and may or may not leave for Liverpool before her regular day. Surrender of Slidell and Mason. CINCINNATI, Dec. 30, 1861. The surrender of Messrs. Mason and Slidell and the ses. pension of specie payments by the banks of New York produced a feeling of relief in business circles here. SUSPENSION OF SPECIE PAYMENTS. Suspension of Specie Payments by the Banks of Boston. Bonon, Dec. 30, 1861. The presidents and directors of the banks of this city held R. meeting this morning, and resolved to suspend specie payments forthwith. Suspension of Specie Payments by the Philadelphia Banks. PHILADELPHIA, Dec. 30,1861. The banks of this city have resolved to suspend specie payments, in consequence of the suspension in New York. Suspension of the Albany Banks. ALBANY, Dec. 30, 1867. In consequence of the action of the New York banks, the banks of this city suspended specie pay ments to-day. The suspension occasions no excitement. The Pittsburg Banks. PITTEBURG, Dec. 30, 1861. The news of the suspension by the East ru banks was not wholly unexpected here, and created little or B° alarm. Our banks have Dot generally suspended Three of then, it is leaderstood, have suspended, but your are till pay? peel the 011 Bank of Hinto g. the Mecannies', Chizebo', and Iron City. Suspension of the Cleveland is CLEVELAND, Dec. 30, 1861 The Cleveland banks suspended specie morning.


Article from New-York Daily Tribune, December 31, 1861

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Bank Suspensions. AD BOSTON. ROSTON, Monday, Dec. 30, 186b. The Presidents and Directors of the banks of this city held a meeting this morning and resolved tasuspend specie payments forthwith. AT PHILADELPHIA. 5 PHILADELPHIA, Monday, Dec. 38, 1861. The banks of this city have resolved to suspend specie payments in consequence of the europension is New York. AT ALBANY. ALBANT, Monday, Dec. 30, 198L In consequence of the action of the New-York banks, the banks of this city suspended special payments to day. The suspension occasions no excitement. AT CLEVELAND. CLEVELAND, Monday, Dea. 30. 186L The Cleveland banks suspended specie payment this morning.


Article from Civilian & Telegraph, January 2, 1862

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Article Text

Suspension of Specie Payments. The Banks of New York, Philadelphia and Albany suspended specie payments on the 30th ult. At Pittsburg the suspension was only partial, four of the seven Banks continuing to pay specie, viz. : the old Bank of Pittsburg, Mechanics, Citizens and Iron City.


Article from Smyrna Times, January 2, 1862

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Article Text

Suspension of Specie Payments by the Banks. The Banks of New York, Philadelphia. Bos. ton and Albany have suspended specie pay. ments, the heavy drafts on their coin caused by their large advances to the Government rendering this step, in their judgment, necessary. . The Times says of the suspansion: "But the most notable event of the day is the suspension of specie payment by the Banks of this city, determined upon in convention on Saturday evening. The absolute suspension of specie payments, to take effect this (Monday) morning. is only qualified by an agreement to make one payment more on the third $50,000.000 loan, to enable Mr. Chase to meet bis in.


Article from The Weekly Sun, January 4, 1862

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Article Text

The General Suspension of Specie Payments. Boston, Dec. 30. The presidents and direc tors of the banks of this city held a meeting this morning and resolved to suspend special payments forthwith. Philadelphia, Dec. 30.-The banks of this city have resolved to suspond specie payments in consequence of the suspension in New York. Pittsburgh, Pa. Dec. 30. - The news of the suspension by the Fa-tern banks was not wholly unexpected here, and created little or no alarm. Our backs have not generally sus. pended. Three of them, it is understood, have suspended, but four are still paying specie. Cleveland Dec. 30-The Cleveland banks sas. pended specie payment this morning. Albany, Dec. 30.-In consequence of the action of the New York banks, the banks of the city suspended specio payments today. The suspension occasions no excitement. Brooklyn, Dec. 30.-The Brocklyn banks, to. day, in consequence of the action of the New York banks, suspended specie payments.