Banks in New York - New York, NY

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: October 19, 1839
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 7d376577

Response Measures

None

Description

Article (Oct 19, 1839) reports that banks in New York (plural) had suspended specie payments as part of a broader suspension in several cities. This is a system-wide suspension (macro news). The article does not report runs, closures, receivers, or later reopening — I classify as suspension_reopening because the piece describes a temporary suspension of specie payments (typical banking suspensions) rather than an immediate permanent failure; however reopening is not described in the text.

Events (1)

1. October 19, 1839 Suspension

Cause: Macro News
Cause Details: Banks in New York (and other cities) suspended specie payments — a coordinated/systemic suspension reported in incoming Northern Mail dispatches.
Newspaper Excerpt: Private letters received state that the Banks in Philadelphia, Baltimore and New York had suspended specie payments.
Source: newspapers

Newspaper Articles (1)

1. October 19, 1839 True American New Orleans, LA

Article from True American, October 19, 1839

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Article Text

SATURDAY, OCTOBER 19, 1839. The Northern Mail, which arrived yesterday, brought UA no papers from New York. Private letters received state that the Banks iii Philadelphia, Baltimore and New York had euspended specie payments. This news created SC me sensation in our city; brokers were seen running from bank to bank, changing their notes for hard money. and it is generally thought that our banks will follow the example of the New York and Philadelphia banks. We don't know that a suspension will be of great The injury to the mass of business men in our city. big fish will be forced to poney up, and a little more liberality will be shown to the honest merchant and small trader.