Bank of Zanesville - Zanesville, OH

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: *
Location: Zanesville, Ohio (39.940, -82.013)

Metadata

Model: gpt-5-mini
Short Digest: c06cc4fe

Response Measures

None

Description

Article (1840-02-08) reports the Bank of Zanesville depreciated their own paper by suspension and sold specie in Philadelphia; no mention of a depositor run, receivership, permanent closure, or takeover. Thus this appears to be a suspension episode without evidence of failure — classified as suspension_reopening. Date of suspension not specified in the excerpt. Bank named as given; in 1840 a chartered bank in Ohio is most likely a state bank.

Events (1)

1. * Suspension

Cause Details: Bank is said to have suspended payments (depreciating its paper) and sold specie in Philadelphia; immediate trigger not specified beyond the suspension and subsequent attempts to buy notes at a discount.
Newspaper Excerpt: the Legislature of that State has ascertained that the Bank of Zanesville, has sold in Philadelphia, since the first of September more than twenty thousand dollars in specie... they have depreciated their own paper by suspension
Source: newspapers

Newspaper Articles (1)

1. February 8, 1840 Salt River Journal Bowling Green, MO

Article from Salt River Journal, February 8, 1840

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Article Text

forded a fruitful source of discussion, and waste of time-To deny the right of petition on this subject, is rather horrifyng to a large majority of the members, and though they are unwilling to go into the merits of this question, they 'whip the devil around the stump' by receiving the petitions and laying them on the table. Hon. N. P. Tallmadge, (Con.) has been reelected to the Senate of the U.S. by the Legislature of New York-and Daniel Sturgeon, (Dem.) has been chosen, to supply the vacancy occasioned by the expiration of the term of Mr-M-Kean, by the Legislature of Pa.-Hon. R. J. Walker, (Dem.) has been re-elected from Mi.--and Michigan has elected Augustus Porter, (Whig) to overlook her interests in the same body vice Mr. I yon. The St. Louis Republican gives an account of a large and respectable meeting of the citizens of Lexington Mo, without distinction of party, held on the 21st ult., to express their sentiments in relation to the removal of Mr. Aull, late postmaster at that place, Judge Ryland presided.-A Cumberland minister by the name of Henderson, late of Callaway county, steps into Mr. A's Soe-and the meeting say, that he has palmed himself upon the community, if not in defiance, at least in advance of its wishes, several resolutions were passed condemning the removal, and among them the following which meets with our most cordial concurrence. "Resolved, That this meeting freely admits the right, and commends its exercise by the appointing power, to give the offices in its bestowal to its political friends instead of its foes, where the qualifications of the applicants are equal; yet it denies the right of any and every high public functionary, in any department of the government, to abridge the freedom of speech and opinion on the part of their subordinates; much less to punish them for the exercise of their birthright as freemen: and this meeting repudiates the assumption of such right, as foreign to the genius of a free government, violative of the principles of our constitution and subversive of the undoubted rights of the citizen. # MORE BANK FRAUDS. The Ohio Statesman says, that the Legislature of that State has ascertained that the Bank of Zanesville, has sold in Philadelphia, since the first of September more than twenty thousand dollars in specie, and that the Bank of Muskingum has sold ten thousand dollars. In other words, they have depreciated their own paper by suspension, and then turn round, as a certain gentleman has it, and buy up their notes at a discount. How long will this system of bank swindling be permitted? How long will it be, before the people, will take some step to reform the enormous abuses of the present banking system? If with such facts as these and the transactions recently detected in the Schuylkill bank of Philadelphia, they will not open their eyes, and will still connive at such instances of fraud and villany, they are certainly 'past salvation and we can almost add, are hardly worth saving.' It is now reduced to a certainty that Morton, (Dem.) is elected Governor of Mass, by one vote-the Legislature has elected a Whig Lieutenant Governor. In the vacant Congressional district in the same State, Baker, (Whig) is elected by two votes. This is 'getting through' with a 'tight squeeze.' Wilmington N. C., was visited by a very disastrous fire on the 17th ult. The loss sustained is estimated at $500,000-the best and most business part of the town was entirely consumed.