Farmers & Mechanics Bank - Cincinnati, OH

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: December 26, 1814
Location: Cincinnati, Ohio (39.103, -84.515)

Metadata

Model: gpt-5-mini
Short Digest: e8369123

Response Measures

None

Description

Article (Dec 26, 1814) is a notice signed by the bank president announcing a temporary suspension of specie payments due to increased specie demand following eastern banks' suspensions and heavy importations. No run or permanent closure is mentioned; suspension described as temporary.

Events (1)

1. December 26, 1814 Suspension

Cause: Macro News
Cause Details: Increased demand for specie from large importations of British goods and suspension of eastern banks' specie payments leading western banks to suspend payment temporarily.
Newspaper Excerpt: It has therefore become necessary to guard against such attempts, by suspending payment in specie for the present. ... ETHAN STOME, President Bank of Cincianati, Cincinnati, 26 Dec. 1814.
Source: newspapers

Newspaper Articles (1)

1. January 25, 1815 The Enquirer Richmond, VA

Article from The Enquirer, January 25, 1815

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Article Text

OHIO BANKS. From an Ohio paper. Whereas large importations of British Goods into Eastern Ports, which during war must be paid for in specie, has created a demand for specie, which has raised the price from five to ten per cent in the Eastern States ; and whereas the suspension of specie payments by the Eastern Banks has directed the attention of monied emissaries to the Western Banks, which continued to pay in specie ; these men, regardless of the true interest of the country, are attempting to draw large sums in specie, for the purpose of transporting it 1 It has therefore become necessary to guard against such attempts, by suspending payment in specie for the prcsent. O. M. SPENCER, President Miami Exporting Company. WM. IRWIN, President Farmers' & Mechanics' Bank. ETHAN STOME, President Bank of Cincianati, Cincinnati, 26 Dec. 1814.