Farmers Bank of Virginia

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: January 1, 1837*
Location: Richmond, Virginia (37.554, -77.460)

Metadata

Model: gpt-5-mini
Short Digest: e4d241f917e013e9

Response Measures

None

Description

Article (Virginia Free Press, 1837-07-06) reports that the Farmers Bank of Virginia had suspension of specie payments and curtailed discounts and circulation; no mention of a depositor run or permanent closure. The suspension appears to be part of the wider 1837 financial distress, so classified as a suspension (no run) while the bank continues limited operations (paying small change). Date of suspension not given in the excerpt; inferred year from publication.

Events (1)

1. January 1, 1837* Suspension

Cause: Macro News
Cause Details: Suspension of specie payments amid widespread financial distress in 1837 (Panic-era contractions); bank curtailed discounts and reduced circulation following suspension
Newspaper Excerpt: since the suspension of specie payments, has curtailed her discounts about $150,000
Source: newspapers

Newspaper Articles (1)

1. July 6, 1837 Virginia Free Press Charles Town, WV

Article from Virginia Free Press, July 6, 1837

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Article Text

# VIRGINIA BANKS. The Richmond Enquirer says that the Farmer's Bank of Virginia, has reduced her discounts near half a million, and her circulation $1,200,000, since the first of January. The Compiler says that the same bank, since the suspension of specie payments, has curtailed her discounts about $150,000, and pays out in small change every day over two hundred dollars.