Bank of Nashville - Nashville, TN

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: July 1, 1859*
Location: Nashville, Tennessee (36.166, -86.784)

Metadata

Model: gpt-5-mini
Short Digest: 9e77a096f68d1be2

Response Measures

None

Description

Newspaper describes sustained attacks and public denunciations leading depositors to send notes home for redemption and large balances demanded and paid in July 1859. No explicit suspension or closure is reported; events amount to a run-like pressure (heavy redemption of notes) but the bank remained defended by a legislative committee examination.

Events (1)

1. July 1, 1859* Run

Cause: Rumor Or Misinformation
Cause Details: Sustained denunciations and attacks advising the public not to take or keep the bank's notes, intended to destroy its credit and prompt redemption of notes.
Measures: Full examination by a legislative committee and publication of sworn statements by officers to verify solvency and reassure the public.
Newspaper Excerpt: these continued attacks upon it excited uneasiness in the public mind, and apprehension for the safety of the Bank ... balances demanded of it for the redemption of its Branch notes ... in the month of July $192,500
Source: newspapers

Newspaper Articles (1)

1. July 16, 1859 Nashville Union and American Nashville, TN

Article from Nashville Union and American, July 16, 1859

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Article Text

lic credit," that it would "suspend again" after the ist of Novem ber, when its balances with the Union and Planters' Banks over one hundred thousand dollars, had to be settled in coin and the people advised not to take or keep its notes. These denunciations were repeated From day to day, by persons who well knew that the Bank belonged to the State, and that it was pledged for the redemption of its Habilities, andin which the people were interested to the amount of six or seven millions of dollars, and after a full examination of a committee of the Leg. islature, composed of a majority opposed to the institution and whose report showed it as sound and safe as any hank in the country, and verified by the sworn statements of its officers; evidently showing a setted purpose on the part of its assailants to destroy its credit, expecting and hoping that the continued clamor against it would destroy public confidence in it, cause its notes to besent home for redemption, and produce the ruin they had so confidently predicted. These continued attacks upon it excited uneasiness in the pullic mind, and apprehension for the safety of the Bank. The following statements taken from the books of the Bank will show the balances demanded of it for the redemption of its Branch notes. through the Union and Planters' Bank alone, in sums nearly equal by each, and paid in Nashville: To the two Banks in the month of July $192,500