Mechanics Bank - Buffalo, NY

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: June 9, 1837
Location: Buffalo, New York (42.886, -78.878)

Metadata

Model: gpt-5-mini
Short Digest: 713f31cd

Response Measures

None

Description

Article (Jun 9, 1837) reports the 'first movement' made on the Mechanics (Pet) Bank by 'small note holders' as part of wider suspensions of specie payments. The text describes agitation/attacks on the bank's notes but does not state the bank suspended or closed. OCR corrected minor typos (e.g., 'holdly'->'boldly'). Cause is ambiguous (political agitation/attack on notes), so classified as 'other'.

Events (1)

1. June 9, 1837 Run

Cause Details: Political/party-driven agitation by 'small note holders' attacking the bank's notes as part of wider suspensions of specie payments.
Newspaper Excerpt: the first movement made against the New York banks was made at Buffalo by the bank (Van Buren) commissioners: the first one made on the New York city banks, was made on the Mechanics (Pet) Bank, by small note holders of both parties:
Source: newspapers

Newspaper Articles (1)

1. June 9, 1837 The Hillsborough Recorder Hillsboro, NC

Article from The Hillsborough Recorder, June 9, 1837

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Article Text

Two sides to a question.- organs of the Administration are striving to persuade the people that the suspension of specie payments has been brought about by the Whigs and Whig Banks: and one of them (the Boston Post) holdly asserts that the Deposite Banks were forced into the measure by the combination of Whig Banks against them! No doubt there are many well-meaning mea who will credit this, but let facts be heard. " The first bank in the United States that suspended, was a Pet Bank in Natehez: the first movement made against the New York banks was made at Buffalo by the bank (Van Buren) commissioners: the first one made on the New York city banks, was made on the Mechanics (Pet) Bank, by small note holders of both parties: the first bank that suspended specie payments in that city, was the Dry Dock (Pet) Bank: the first Bank that discredited its notes, was another pet: and the first meeting held for the purpose of suspending. was held in the State Bank, another pet in New York." These facts we glean from a well-informed contemporary, and we leave our readers to judge between them and the also tions of the Van Burenites. Newbern Spectator.