15425. Banks in New York City (New York, NY)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
May 10, 1837
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
20baba16

Response Measures

None

Description

The articles are brief historical chronologies noting that all banks in New York City suspended specie payments on 1837-05-10 and resumed on 1838-05-10. This refers to a system-wide suspension (multiple banks), not a single named bank; bank type is therefore unknown.

Events (2)

1. May 10, 1837 Suspension
Cause
Macro News
Cause Details
System-wide financial panic in 1837 led all New York City banks to suspend specie payments.
Newspaper Excerpt
May 10-All banks in New York city suspended specie payment because of financial panic.
Source
newspapers
2. May 10, 1838 Reopening
Newspaper Excerpt
May 10-Banks in New York resumed specie payment.
Source
newspapers

Newspaper Articles (7)

Article from Litchfield Enquirer, May 18, 1837

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Article Text

THE ENQUIRER LITCHFIELD, MAY 18, 1837. The Legislature of this State on Friday morning adjourned over to Tuesday morning. Nothing of very great consequence has yet been done. We understand that there was: a prodigious fluttering among the official pidgeons when Dr. Vaill of Washington introduced his resolution to have a committee appointed to ascertain whether there were not members of the legislature (Postmasters or Deputy Sheriffs) holding their seats in direct contravention to the spirit if not the letter of the constitution. The factis members the legislature are elected for twelve months; and e ery year more or less Postmasters are chosen. They transfer their office for a few days to some friend, and on the adjournment of the legislature resume it-making their resignation a mere matter of moonshine-a sheer evasion of the law. We should be glad to see the legislature adopt some strong measures upon this subject. The Speaker, in the appointment of the committee, and not putting the mover of the resolution upon it, was guilty of a species of meanness, of want of courtesy and parliamentary usage altogether unjustifiable, which we trust will be remembered at the close of the session. The Better Currency."- will be seen by our readers, on reference to various articles in our paper to-day. that all the Banks in New-York have stopped specie payments. And no sooner had information of this fact reached New-Haven and Hartford, than the Banks in those cities had meetings, and (except the City Bank of New-Haven) came to the conclusion to suspend also. So at Providence, Boston, Albany, Philadelphia, Baltimore, and indeed every where else so far as we have received information, except the Bank of the Metropolis at Washington. This is another of the many bitter fruits attendant upon the war commenced upon the Bank of the United States by the administration, and continued by issuing the famous Treasury Circular. What are we to do for change ?" " How shall we get along for small change?' is now the universal cry all over the country, since the Banks have stopped paying it out. The answer is easy-and we conceive the remedy is easily applied, if all will act in concert.Let in the to without to we it what any there attempts is community hoard it continue up, and circulate, think will be abundant. There is still a large amount of specie in the country and as the banks have come to the determination not to pay it out, there can be no great need of enlarging the amount in their vaults for the present. K Or if all this will not do, we shall be obliged to resort to individual tickets of the dat winn. tion of 6 1-4, 1-2, 25, &c. as in 1814 cated Man t at that time called Shin-Plasters." right to be a children "hard currency" sure enough! to In should think of any man in favor of country. ntly chargeable Tom Benton ! in breakings Will not our Legislature repeal if, brittle material he so that one and two dollar notes may unfortunate at least a Banks and passed by the people withouch, is rath erned, prosecution? This is a question which pauch quently propounded by all classes and parties. A number of petitions praying that it might be done have already been presented to the legislature ; and we are assured by some of the members that a bill having that for its object will undoubtedly pass the House, and probably the Senate-though in the latter body it is more doubtful. Things have arrived to such a crisis, however, that we think they will not venture to take the responsibility of negativing such a measure. A Caution!-We would advise all holders of bank notes not to be hasty in parting with them for less than their face. A committee appointed by the Legislature have recently investigated the affairs of all the Banks in this State, except the Quinebaug, and pronounce them perfectly sound. The notes still pass from hand to hand as usual, will pay all debts at the Bank, and will buy goods, provisions, and other necessaries as usual they will, in short, constitute, as heretofore, only more exclusively, the circulating medium of the country and the sooner, and more permanently, confidence is restored in making use of them, the better will it be for the whole community. Connecticut bills, and New-England bills generally, already are more current in the city of New-York than their own safety fund notes. or Our readers are referred to the first page of this day's paper for some communications for which we had not room on the inside columns. or Numerous merchantsin Hartford and New-Haven, we perceive by the papers, advertise to receive the notes of all the Banks in this State, as usual, for goods in payment of accounts. The Banks continue to receive and emit bank notes as formerly. Bankruptcy.-In looking over the advertising columns of the Hartford Times of Saturday last, we observed notices from the Court of Probate for Bristol, for the appointment of Commissioners on the estates of at least fourteen different individuals who are represented insolvent, in the little manufacturing town of Bristol alone, to wit: Merriman, Atkins & Co., Geo. Mitchell, Rollin Atkins, Mitchell & Hinman, R. & I. Atkins, Orasmus Allen, Geerge H. Mitchell, and Hart, Hills & Tucker. Six months ago, and these men were doing business, and considered in prosperous circumstances now, thanks to Gen. Jackson, and his tinkering with the currency, they are prostrate, and the probability is that some of them, who are aged men, will never be able to rise again. K The Secretary of the Treasury has issued a circular to the Collectors of the Revenue that all bonds for payment of duties must be paid in gold or silver, or of the notes of specie-paying Banks. And the Postmaster General directs Postmasters not to receive postage in any thing else. KT The Senate of New-York on Friday last passed a law, 24 to 2, suspending the operation of the law for one year which requires the Safety Fund Banks of that State to pay specie for their notes- in other words, granting them permission to suspend specie payments without the liability of prosecution by the


Article from Phillipsburg Herald, December 13, 1900

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Article Text

Nov. 14-Charles Carroll, last surviving signer of declaration of independence, died at Baltimore, aged 95. Nov. 19-Convention at Columbus, S. C., adopted resolutions declaring tariff acts null and void. 1833. March 16-South Carolina repealed nullification resolution in convention. Sept. 26-President Jackson directed removal of $10,000,000 of government funds from National bank to be deposited in state banks. Nov. 13-Great meteoric display visible in North America. Dec. 6-American Anti-Slavery society organized in Philadelphia. 1834. June 30-Indian territory established by act of congress. Dec. -President in annual message, announced extinguishment of national debt. 1835. Dec. 16-18-Business portion of New York city destroyed by fire; 648 buildings destroyed; loss $18,000,000. Dec. 28-Seminole Indian war began. Thomas Davenport, of Braddon, Vt., built first electric railway motor at Springfield, Mass. 1836. March 2-Texas declared its independence. March 6-Massacre at the Alamo, San Antonio, Tex., by Mexicans under Santa Anna. May 14-Mexico acknowledged independence of Texas. June 15-Arkansas admitted to the union. June 28-Ex-President James Madison died at Montpelier, Vt., aged 85. Nov. 8-Thirteenth presidential election. Martin Van Buren elected president with 761,549 popular and 170 electoral votes, against 73 electoral votes for his nearest competitor, William Henry Harrison. Total popular vote, 1,498,205. No vice president chosen because of lack of majority of electoral votes. Senate chose Richard M. Johnson. 1837. Jan. 6-Michigan admitted to the union. May 10-All banks in New York city suspended specie payment because of financial panic. 1838. May 10-Banks in New York resumed specie payment. 1839. Oct. 10-United States bank suspended, causing financial panic. 1840. Jan. 19-Lieut. Wilkes discovered Antarctic continent. June-Fifth census taken. Population, 17,068,666. Nov. 10-Fourteenth presidential election. William Henry Harrison received 234 electoral and 1,275,017 popular votes, and Martin Van Buren 60 electoral and 1,128,702 popular votes. 1841. April 4-President Harrison died, aged 68. April 5-Vice President Tyler took oath of office as president. July 6-Act to distribute money from sales of public lands among the states passed. July 15-Independence of Egypt acknowledged by Turkey. 1842 May 2-Col. John C. Fremont's first expedition started for Rocky mountains. Aug. 14-End of Indian war in Florida proclaimed. Aug. 20-Ashburton reaty, settling Maine boundary dispute between United States and England, ratified by senate. Oct. 18-First submarine cable laid by Prof. Morse in New York harbor. 1843. Jan. 11-Francis S. Key, author of "Star-Spangled Banner," died at Baltimore, aged 68


Article from The Forrest City Times, December 14, 1900

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Article Text

Nov. 14 CharlesCarrol, last surviving signer of declaration of independence, died at Baltimore. aged 95. Nov. 19-Convention at Columbus, S. C., adopted resolutions declaring tariff acts null and void. 1833. March 16-South Carolina repealed nullification resolution in convention. Sept. 26-President Jackson directed removal of $10,000,000 of government funds from National bank to be deposited in state banks. Nov. 13-Great meteoric display visible in North America. Dec. 6-American Anti-Slavery society organized in Philadelphia. 1834. June 30-Indian territory established by act of congress. Dec. -President in annual message announced extinguishment of national debt. 1835. Dec. 16-18-Business portion of New York city destroyed by fire; 648 buildings destroyed; loss $18,000,000. Dec. 28-Seminole Indian war began. Thomas Davenport, of Braddon, Vt., built first electric railway motor at Springfield, Mass. 1836. March 2-Texas declared its independence. March 6-Massacre at the Alamo, San Antonio, Tex., by Mexicans under Santa Anna. May 14-Mexico acknowledged independence of Texas. June 15-Arkansas admitted to the union. June 28-Ex-President James Madison died at Montpelier, Vt., aged 85. Nov. 8-Thirteenth presidential election. Martin Van Buren elected president with 761,549 popular and 170 electoral votes, against 73 electoral votes for his nearest competitor. William Henry Harrison. Total popular vote, 1,498,205. No vice president chosen because of lack of majority of electoral votes. Senate chose Richard M. Johnson. 1837. Jan. 6-Michigan admitted to the union. May 10-All banks in New York city suspended specie payment because of financial panic. 1838. May 10-Banks in New York resumed specie payment. 1839. Oct. 10-United States bank suspended, causing financial panic. 1840, Jan. 19-Lieut. Wilkes discovered Antarctic continent. June-Fifth census taken. Population, 17,068,666. Nov. 10--Fourteenth presidential election. William Henry Harrison received 234 electoral and 1,275,017 popular votes, and Martin Van Buren 60 electoral and 1,128,702 popular votes. 1841. April 4-President Harrison died, aged 68. April 5-Vice President Tyler took oath of office as president. July 6-Act to distribute money from sales of public lands among the states passed. July 15-Independence of Egypt acknowledged by Turkey. 1842 May 2-Col. John C. Fremont's first expedition started for Rocky mountains. Aug. 14-End of Indian war in Florida proclaimed. Aug. 20-Ashburton reaty, settling Maine boundary dispute between United States and England. ratified by senate. Oct. 18-First submarine cable laid by Prof. Morse in New York harbor. 1843. Jan. 11-Francis S. Key, author of "StarSpangled Banner," died at Baltimore, aged 68.


Article from Perrysburg Journal, December 14, 1900

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Article Text

rol, last surviving signer of declaration of independence, died at Baltimore, aged 95. Nov. 19-Convention at Columbus, S. C., adopted resolutions declaring tariff acts null and void. 1833. March 16-South Carolina repealed nullifi- cation resolution in convention. Sept. 26-President Jackson directed re- moval of $10,000,000 of government funds from National bank to be deposited in state banks. Nov. 13-Great meteoric display visible in North America. Dec. 6-American Anti-Slavery society or- ganized in Philadelphia. 1834. June 30-Indian territory established by act of congress. Dec. -President in annual message an- nounced extinguishment of national debt. 1835. Dec. 16-18-Business portion of New York city destroyed by fire; 648 buildings de- stroyed; loss $18,000,000. Dec. 28-Seminole Indian war began. Thomas Davenport, of Braddon, Vt., built first electric railway motor at Spring- field, Mass. 1836. March 2-Texas declared its independence. March 6-Massacre at the Alamo, San An- tonio, Tex., by Mexicans under Santa Anna. May 14-Mexico acknowledged indepen- dence of Texas. June 15-Arkansas admitted to the union. June 28-Ex-President James Madison died at Montpelier, Vt., aged 85. Nov. 8-Thirteenth presidential election. Martin Van Buren elected president with 761,549 popular and 170 electoral votes, against 73 electoral votes for his nearest competitor, William Henry Harrison. Total popular vote, 1,498,205. No vice president chosen because of lack of ma- jority of electoral votes. Senate chose Richard M. Johnson. 1837. Jan. 6-Michigan admitted to the union. May 10-All banks in New York city sus- pended specie payment because of finan- cial panic. 1838. May 10-Banks in New York resumed specie payment. 1839. Oct. 10-United States bank suspended, causing financial panic. 1840. Jan. 19-Lieut. Wilkes discovered Antarctic continent. June-Fifth census taken. Population, 17,068,666. Nov. 10-Fourteenth presidential election. William Henry Harrison received 234 elec- toral and 1,275,017 popular votes, and Mar- tin Van Buren 60 electoral and 1,128,702 popular votes. 1841. April 4-President Harrison died, aged 68. April 5-Vice President Tyler took oath of office as president. July 6-Act to distribute money from sales of public lands among the states passed. July 15-Independence of Egypt acknowl- edged by Turkey. 1842 May 2-Col. John C. Fremont's first expedi- tion started for Rocky mountains. Aug. 14-End of Indian war in Florida pro- claimed. Aug. 20-Ashburton treaty, settling Maine boundary dispute between United States and England, ratified by senate. Oct. 18-First submarine cable laid by Prof. Morse in New York harbor. 1843. Jan. 11-Francis S. Key, author of "Star- Spangled Banner," died at Baltimore, aged 63.


Article from The Kinsley Graphic, December 14, 1900

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Article Text

Nov. 14-Charles Carrol, last surviving signer of declaration of independence, died at Baltimore, aged 95. Nov. 19-Convention at Columbus, S. C., adopted resolutions declaring tariff acts null and void. 1833. March 16-South Carolina repealed nullification resolution in convention. Dec. 6-American Anti-Slavery society organized in Philadelphia. 1834. Dec. -President in annual message announced extinguishment of national debt. 1835. Dec. 28-Seminole Indian war began. Thomas Davenport, of Braddon, Vt., built first electric railway motor at Springfield, Mass. 1836. March 2-Texas declared its independence. May 14-Mexico acknowledged independence of Texas. June 15-Arkansas admitted to the union. June 28-Ex-President James Madison died at Montpelier, Vt., aged 85. Nov. 8-Thirteenth presidential election. Martin Van Buren elected president with 761,549 popular and 170 electoral votes, against 73 electoral votes for his nearest competitor, William Henry Harrison. Total popular vote, 1,498,205. No vice president chosen because of lack of majority of electoral votes. Senate chose Richard M. Johnson. 1837. Jan. 6-Michigan admitted to the union. May 10-All banks in New York city suspended specie payment because of financial panic. 1838. May 10-Banks in New York resumed specie payment. 1839. Oct. 10-United States bank suspended, causing financial panic. 1840. Jan. 19-Lieut. Wilkes discovered Antarctic continent. June-Fifth census taken. Population, 17,068,666. Nov. 10-Fourteenth presidential election. William Henry Harrison received 234 electoral and 1,275,017 popular votes, and Martin Van Buren 60 electoral and 1,128,702 popular votes. 1841. April 4-President Harrison died, aged 68. July 6-Act to distribute money from sales of public lands among the states passed. 1842 Aug. 14-End of Indian war in Florida proclaimed. Aug. 20-Ashburton reaty, settling Maine boundary dispute between United States and England, ratified by senate. Oct. 18-First submarine cable laid by Prof. Morse in New York harbor. 1844. May 27-First telegram sent over a land line from Washington to Baltimore. Nov. 12-Fifteenth presidential election. James K. Polk received 170 electoral and 1,335,834 popular votes. Henry Clay received 105 electoral and 1,297,033 popular votes. 1845. Jan. 23-Congress appointed first Tuesday following first Monday in November national election day. Feb. 28-Texas annexed by joint resolution. March 3-Florida admitted to the union. June 8-Ex-President Andrew Jackson died, aged 78. Dec. 29-Texas admitted to the union as a state. 1846. April 25-Hostilities between Mexico and


Article from The Scranton Chronicle, December 22, 1900

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Article Text

Nov. Charles Carrol, last surviving signer of declaration of independence, died at Baltimore, aged 95. Nov. 19-Convention at Columbus, S. C., adopted resolutions declaring tariff acts null and void. 1833. March 16-South Carolina repealed nullification resolution in convention. Sept. 26-President Jackson directed removal of $10,000,000 of government funds from National bank to be deposited in state banks. Nov. 13-Great meteoric display visible in North America. Dec. 6-American Anti-Slavery society organized in Philadelphia. 1834. June 30-Indian territory established by act of congress. Dec. -President in annual message announced extinguishment of national debt. 1835. Dec. 16-18-Business portion of New York city destroyed by fire; 648 buildings destroyed; loss $18,000,000. Dec. 28-Seminole Indian war began. Thomas Davenport, of Braddon, Vt., built first electric railway motor at Springfield, Mass. 1836. March 2-Texas declared its independence. March 6-Massacre at the Alamo, San Antonio, Tex., by Mexicans under Santa Anna. May 14-Mexico acknowledged independence of Texas. June 15-Arkansas admitted to the union. June 28-Ex-President James Madison died at Montpelier, Vt., aged 85. Nov. 8-Thirteenth presidential election. Martin Van Buren elected president with 761,549 popular and 170 electoral votes, against 73 electoral votes for his nearest competitor, William Henry Harrison. Total popular vote, 1,498,205. No vice president chosen because of lack of majority of electoral votes. Senate chose Richard M. Johnson. 1837. Jan. 6-Michigan admitted to the union. May 10-All banks in New York city suspended specie payment because of financlal parie. 1838. May 10-Banks in New York resumed specie payment. 1839. Oct. 10-United States bank suspended, causing financial panic. 1840, Jan. 19-Lieut. Wilkes discovered Antarctic continent. June-Fifth census taken. Population, 17,068,666. Nov. 10-Fourteenth presidential election. William Henry Harrison received 234 electoral and 1.275.017 popular votes, and Martin Van Buren 60 electoral and 1,128,702 popular votes. 1841. , April 4-President Harrison died, aged 68. April 5-Vice President Tyler took oath of office as president. July 6-Act to distribute money from sales of public lands among the states passed. July 15-Independence of Egypt acknowledged by Turkey. 1842 May 2-Col. John C. Fremont's first expedition started for Rocky mountains. Aug. 14-End of Indian war in Florida proclaimed. Aug. 20-Ashburton reaty, settling Maine boundary dispute between United States and England, ratified by senate. Oct. 18-First submarine cable laid by Prof. Morse in New York harbor. 1843. Jan. 11-Francis S. Key, author of "StarSpangled Banner," died at Baltimore, aged 68.


Article from The Republican, February 7, 1901

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Article Text

Nov. 14-Charles Carroll, last surviving signer of declaration of independence, died at Baltimore, aged 95. Nov. 19-Convention at Columbus, S. C., adopted resolutions declaring tariff acts null and void. 1833. March 16-South Carolina repealed nullification resolution in convention. Sept. 26-President Jackson directed removal of $10,000,000 of government funds from National bank to be deposited in state banks. Nov. 13-Great meteoric display visible in North America. Dec. 6-American Anti-Slavery society organized in Philadelphia. 1834. June 30-Indian territory established by act of congress. Dec. -President in annual message announced extinguishment of national debt. 1835. Dec. 16-18-Business portion of New York city destroyed by fire; 648 buildings destroyed; loss $18,000,000. Dec. 28-Seminole Indian war began. Thomas Davenport, of Braddon, Vt., built first electric railway motor at Spring-field, Mass. 1836. March 2-Texas declared its independence. March 6-Massacre at the Alamo, San Antonio, Tex., by Mexicans under Santa Anna. May 14-Mexico acknowledged independence of Texas. June 15-Arkansas admitted to the union. June 28-Ex-President James Madison died at Montpelier, Vt., aged 85. Nov. 8-Thirteenth presidential election. Martin Van Buren elected president with 761,549 popular and 170 electoral votes, against 73 electoral votes for his nearest competitor, William Henry Harrison. Total popular vote, 1,498,205. No vice president chosen because of lack of majority of electoral votes. Senate chose Richard M. Johnson. 1837. Jan. 6-Michigan admitted to the union. May 10-All banks in New York city suspended specie payment because of financial panic. 1838. May 10-Banks in New York resumed specie payment. 1839. Oct. 10-United States bank suspended, causing financial panic. 1840. Jan. 19-Lieut. Wilkes discovered Antarctic continent. June-Fifth census taken. Population, 17,068,666. Nov. 10-Fourteenth presidential election. William Henry Harrison received 234 electoral and 1,275,017 popular votes, and Martin Van Buren 60 electoral and 1,128,702 popular votes. 1841. April 4-President Harrison died, aged 68. April 5-Vice President Tyler took oath of office as president. July 6-Act to distribute money from sales of public lands among the states passed. July 15-Independence of Egypt acknowledged by Turkey. 1842 May 2-Col. John C. Fremont's first expedition started for Rocky mountains. Aug. 14-End of Indian war in Florida proclaimed. Aug. 20-Ashburton treaty, settling Maine boundary dispute between United States and England, ratified by senate. Oct. 18-First submarine cable laid by Prof. Morse in New York harbor. 1843. Jan. 11-Francis S. Key, author of "Star-Spangled Banner," died at Baltimore, aged 68.