18961. Bank of the U. S. (Philadelphia, PA)

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 9, 1839
Location: Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model: gpt-5-mini
Short Digest: 1ad03b1d

Response Measures

None

Description

The Bank of the United States led a suspension of specie payments in October 1839 (other Philadelphia banks followed). Subsequent articles through 1841 describe inability to resume, insolvency, and an assignment of assets to assignees for winding up (formal closure). No clear standalone depositor run is described in these excerpts; the primary event is suspension followed by winding-up/assignment (closure). Dates inferred from newspaper publication dates (suspension reported Oct 15, 1839 issue; assignment reported Sept 1841).

Events (4)

1. October 9, 1839 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank of the U.S. and several Philadelphia banks were unable to meet specie payments and formally suspended; inability to resume and poor condition cited in later reports.
Newspaper Excerpt: The Bank of the U. S. taking the lead, and the other Banks of Philadelphia, suspended on Wednesday
Source: newspapers

2. December 1, 1840* Other

Newspaper Excerpt: The U. S. Bank is in a deplorable condition... cannot pay their notes... ask for another year's indulgence (discussion of insolvency and calls for legislative intervention).
Source: newspapers

3. May 4, 1841 Other

Newspaper Excerpt: Important Disclosures... seven millions of dollars of the suspended debts... loans to active and prominent Federal Whigs... (board/stockholder disclosures of bad loans)
Source: newspapers

4. September 1, 1841* Receivership

Newspaper Excerpt: the directors had made a general assignment of assets of the bank to five assignees... Directors ... abandon formally all projects of continuing the bank in any shape, except to wind up its concerns (assignment/ winding up).
Source: newspapers

Newspaper Articles (10)

1. May 11, 1838 Richmond Enquirer Richmond, VA

Article from Richmond Enquirer, May 11, 1838

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specie payments by the Philadelphia Banks had been re- ferred to a committee at the last meeting of the delegates of those institutions." -The only recent sign we have from Philadelphia, is the following paragraph from the Philadelphia Inquirer:-"The Bank of the U. S. on Sa- turday last, paid specie for ail demands and balances un- der one dollar! The other Philadelphia Banks will no doubt follow the example in the course of the present week. This is but the beginning of a more general and permanent resumption." (We shall commence in our next the four Nos. of "A Citizen," which appeared in the Boston Courier, on Mr. Biddle's Letter. The strictures which they furnish are able and severe -Some have attributed them to a son of Mr. Adams!) # WESTERN BANKS. Much discussion prevails at Washington, and some di- versity of views, upon the rescinding of the Specie Cir- cular.-It is said by some, that Mr. Wright will report up- on Mr. Clay's resolution, a measure substantially repeal- ing the Circular; by doing away all distinction between the payments for the customs and the public lands-It is believed again by others, that if the Senate itself takes no measure upon the subject, the President will rescind it of his own accord. We should hope he would not hesitate to do it, even if the Senate fail to act upon it. - On this point, the views which Mr. Buchanan expressed, on the 2d inst, upon the motion to commit Mr. Clay's resolution, are so appropriate and so just, that we can- not forbear laying them before the reader: "Mr. Buchanan did not rise to prolong this debate, but merely to state the reason, without entering into any ar- gument, which would induce him to vote for the refer- ence of this resolution to the Committee on Finance.- He was anxious to place his vote upon this question in such a light that it could not be misunderstood. If he had been successful in obtaining the floor at an earlier stage of the debate, he thought he could have demonstrat- ed, that in every statesmanlike and in every practical view of the subject, the resolution of 1816, in regard to the re- ceipt of the notes of specie-paying banks, was better than the resolution proposed by the Senator from Kentucky If his resolution had merely proposed to revive the re- solution of 1816 in regard to the public lands, and to place them upon the same footing with the custoins, it should have received his [Mr. B.'s] support. The pur- poses for which the Specie Circular was called into ex- istence, had long been accomplished. No reason any longer existed to continue the discrimination between the currency receivable in payment of the public lands and in payınent of duties. There was now a powerful reason why this discrimination should cease. How could it be expected that the Western banks would re- sume specie payments, under the operation of that cir- cular? If all the public lands must be paid for in gold and silver, (and extensive sales had recently been ad- vertised,) whilst the custoins were paid in bank paper, would not this produce a run upon the Western banks, and drain them of all their specie, in ease they resumed? He would place the Western and Eastern banks precise- ly on the same footing; he would interpose no obstacle in the way of resumption; and then he would call upon them all to redeem their notes in specie. Had the re- solution of the Senator, therefore, been confined to a re- peal of the discrimination which now existed, he must have voted for it, or abandoned his fixed opinions, which had already repeatedly received the sanction of the Se- nate. "As the proposed resolution was not confined to this object, he hoped that it might be referred; and when the report of the committee should be made, he would then undertake to prove that the resolution of 1816, the con- struction of which had become settled by a practice of more than twenty years, was better for the Government, better for the banks, and better for the people, than the change now proposed to be adopted."

2. October 15, 1839 Richmond Enquirer Richmond, VA

Article from Richmond Enquirer, October 15, 1839

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# Another Suspension! The Bank of the U. S. taking the lead, and the other Banks of Philadelphia, suspended on Wednesday The following banks have followed lead-the Banks of Baltimore, with the resolution, "That under the circumstances, this meeting deems it advisable that the Banks of this city forthwith suspend specie payments for the present, and recommend the same to the Boards of the several Banks." - The Banks of Delaware and the Bank of Wilmington and Brandywine also suspended- Ditto the Banks of Georgetown, (with the exception of the Patriotic Bank of Washington,) and of Alexandria-the Banks of Norfolk, with the exception of the Exchange Bank.) and of Richmond, (including the Office of the Exchange Bank)-These last for the present, to see what course the other Banks will pursue; and accompanied with a resolution, not to extend their business. Per Contra, the Banks of NEW YORK stand their ground-All the papers affirm that they will stick to it; and the New York Gazette of Saturday uses the following strong language: "Our Banks will not suspend specie payments. No such fraternity need be looked for, maugre all the prophecy that can be got up South of the Delaware. There may be a very few puny politicians, and a smaller number still, of narrow minded men of business who croak of something they do not understand-who talk about the "necessity of protecting ourselves," and all that sort of thing-meaning thereby that the Banks ought to follow Philadelphia example; but nine-tenths of the community, of all parties, repudiate the idea with the scorn it deserves." It is believed, that the Banks of the North will generally follow their example-and we learn, that most of the Banks in Boston, Portland, &c., will be able to make good their engagements. So mote it be!

3. December 10, 1839 Richmond Enquirer Richmond, VA

Article from Richmond Enquirer, December 10, 1839

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Another false coinage, nailed to the counter! Mr. Calhoun and the Assumption. The reader may recollect that Mr. Calhoun has been charged with a design of advocating the assumption of the State Debts by the Government of the U. S. We denied the report, and called upon Mr. Calhoun or one of his friends at Washington to notice the subject. We are now "authorized and requested to say, that no man in the U. States is more opposed, than he is, to the whole scheme: and that no scheme could be concocted to which he would be more opposed. The report circulated by the Washington Correspondent of the N. Y. Courier has not the shadow of foundation. Mr. C. will take the earliest opportunity that can be presented, to speak for himself on this and on other great questions." The Philadelphia Spirit of the Times publishes the following Letter from the State Treasurer of Pennsylvania, refusing to receive a tax declared upon dividends made contrary to law. That paper insists upon it, that public opinion is fixed upon an early resumption; that Governor Porter will recommend it; and that the Legislature will enforce it : TREASURER'S OFFICE, Nov. 20, 1839, Dear Sir-Enclosed, I return you a check on the Bank of the U. S., it being for tax on the amount of dividend declared by the Bank of which you are an officer. I have two objections to receiving the check. The first is, the Baak had no authority by law to declare a dividend during the suspension of specie payments; and second, the dividend declared In May will be required in specie. See act of 27th January, 1819. Yours truly, DANIEL STURGEON, State Treasurer.

4. December 8, 1840 Richmond Enquirer Richmond, VA

Article from Richmond Enquirer, December 8, 1840

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part, that he has duly weighed the subject, and made up his mind irrevocably, as to the course which it is his duty to pursue. A high responsibility rests upon him, and it will gratify all honest men to see him dis- charge it firmly and faithfully. We quote the article in the Pennsylvanian: # RESUMPTION OF SPECIE PAYMENTS The deep interest felt on this subject, by all classes of the community, is abundant proof of its paramount importance. It is by no means surprising that it is viewed in different lights by different individuals. To the ultra bank men, the 15th of January appears to be a day fraught with ruin and distress, while to the cool, clear-sighted Democratic advocates of the law and of bank reform, it seems to be merely a day when justice, long delayed, is to be again measured out to the people. The extravagant notions of the bank partisans, would astonish us, did we not so often witness their delusion. They have made propositions in various quarters, to postpone the day of resumption for six months, for a year, and even for a longer period. A correspondent of a neighboring paper, professing to be Democratic, has suggested the postponement for a year, and even indulges the hope of obtaining the sanction of the Legislature and of Governor Porter. No one who will take the trouble to read Governor Porter's letter to the citizens of Pittsburg, written during the month of Sept. last, can for a moment entertain this belief. In that letter, the Governor stated distinctly that he would not yield his assent to any law for the further procrastination of the resumption. He stated also that the day fixed, was in his opinion, too remote at the time, and he could not and would not postpone it. By this letter, full notice was given to the Banks and to the public of the course the Governor would pursue, and if all are not prepared for it, the fault belongs to them, or to the system on which the banking institutions are organized. We have availed ourselves of the opportunity afforded by the visit of the Governor to this City, to ascertain whether his views on this grave subject remain unchanged; and it affords us much pleasure to be able to assure our readers on the best authority, that so postponement of the day of resumption beyond the 15th of January next, will receive his approbation. He is as anxious as any one can be to relieve the community from embarrassment and distress, but he is not of opinion that it is the TRUE mode of ministering this relief to entail upon us for a day longer than is already allowed, the hopeless evils of the present suspension. The Governor and his friends had confidently believed that after his Pittsburg letter above referred to, no idle hopes would be indulged by the Banks of any further acquiescence on the part of Governor Porter in the present suspension; but if they are determined to delude themselves, and to try to delude the public, in the very teeth of the Governor's assurances to the contrary, they must be permitted to solace themselves with their own folly, and learn when the day of trial arrives, how utterly groundless have been their anticipations." The article "in a paper professing to be Democratic," is a communication by a friend of the Philadelphia banks, published in the American Sentinel, a journal devoted to the interests of those corporations. We copy a passage or two, in which the confession is made that the U. S. Bank and certain other of the Philadelphia banks, cannot pay their notes without help: "The Bank of the U. S. is unable to resume, on her own resources, on the day fixed by law. Certain other of our institutions are equally unable to resume. This is the fact. All rhodomontade is useless. All attempt to disguise the truth by false pretensions is idle. The judicious and sensible portion of the community, as well here as in New York and Boston, know the truth of these averments. The two last named cities, in the hope of getting home considerable debts in specie, which were incurred by our citizens in paper, may be willing to hazard the loan of smaller sums to these Banks on their post notes to be immediately discounted here and converted into specie on their transient resumption to bring it about; but they well know that any such movement by our institutions would betray a deplorable weakness both of intellect and means. They well know that the error of our resumption of 1838 was, that it was based on the same fallacious principle (though in a different form) that is now advocated by them for their own interests. "In our view, their duty is plain. Let the Directors of the United States Bank make a fair and full statement of its condition (the days of delusion are past) to the Legislature of the Commonwealth as soon as it assembles, showing the efforts they have made to conform to the law; let them show wherefore they have been unable to accomplish their wishes; let them give such pledges as from men of their standing will command respect that they will, honestly and zealously as they have done, pursue the course most likely to bring the immediate liabilities and active means of the bank into a just ratio with each other; and ask with frankness of manner and integrity of purpose for such an extension of time, in the present suspension law, as will enable then to put their institution in a condition to meet its requisitions. This could probably be accomplished in another year." There is a great deal of truth in the first of these paragraphs. The U. S. Bank is in a deplorable condition, and one or two of its Philadelphia sisterhood, are in no better. They cannot pay their notes, as this champion of theirs truly says, unless money is given them to do it. Lend them money enough and they will pay their notes with the greatest ease, but then there will be a little difficulty about their payment of the loan. When the Philadelphia Legislature sanctioned the fraud of the Pennsylvania banks until the 15th of January, we declared our conviction, that as soon as that time should arrive, the banks would ask for another year's indulgence. It is now but six weeks to the 15th of January, and the banks, hopeless of obtaining the money to pay their notes from New York and Boston, are beginning to talk of a new interposition of the legislature between them and their creditors. How long is this game to go on? Is the suspension law to be renewed from year to year like a lease? (From the Delaware Gazette.)

5. February 18, 1841 Richmond Enquirer Richmond, VA

Article from Richmond Enquirer, February 18, 1841

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[From the N. Y. New Era.] # HARRISON AND BITTER TIMES. This is the beginning of the end. The confidence, the prosperity, and the immense business that were to follow the election of General Harrison, are already more than realised. Hope now beams on the countenance of every business man-prosperity follows in his footsteps-riches come by asking-in short the bright era of Federalism is now, even now, upon us. Seriously; what do we see? Is confidence restored?-It is entirely banished. Has business revived?-It has taken wings and flown away. Does prosperity overspread the country? Nothing but ruin and disaster are seen from one end of the Union to the other. -The very movements of the "Hero of Tippecanoe" have seemed to carry dismay and consternation into every departinent of trade and commerce throughout the country. His "progress" toward the Capitol has been attended by the huzzas of hordes of office-seekers, and reports of the crash of banks. On his first movement from his quiet and probably regretted home at North Bend, the great file-leader of Federalism and aristocracy, the monster Bank of the U. S., arrayed its golden candlesticks to shed their rays of aristocratic light around his progressive footsteps. Anthems and hallelujahs were sung by the whole tribe of Federalism in the same breath to "Harrison" and "Biddle's Bank;" but lo! the nearer he approached to the citadel of his hopes, the blaze that shot forth for a few days begun to flicker and grow dim. His very approach flung a sickly hue around the shining hopes of coming prosperity, and when within hailing distance of the capital of the nation, the ignis fatuus they hoped to clasp was lost in the distance. Twenty days had they glowed like fire-flies in a summer's evening-twenty days did their iron prison vaults stand open, inviting all to exchange their rags for the golden treasures within, and sing pæans to the great chief of the nation. The doors were at length heard to creak upon their hinges-they were sprung upon the victims of an idle delusion-they closed with a mighty crash: the echo went forth to every hamlet and household in the land. Thus has the hero of Tippecanoe been welcomed with a "feu de joie" of groans and discordant sounds, emanating from the sad victims of misplaced confidence. Old Tip is surely a magician. Evidences of restored confidence greet him at every step. He had no sooner placed foot in Baltimore than word was given for the banks to break-and break they did. The very cannon that announced his approach, announced also this new evidence of restored confidence in his capacity- "Hurrah for Gen Harrison" - "Hurrah for the Credit System"- "Hurrah for restored confidence!" "Prosperity and restored confidence," has been rung into the ears of the people for months as sure to attend the election of General Harrison; and the assertion has proved just as true as all other promises of Aristocratic Federalisın-it was a lie and a cheat. His very "progress" to take upon himself the great responsibilities of chief of the nation, has seemed to have dissipated all hope; all confidence is at an end, and not a town or village through which he has passed but feels the sad effects that his elevation has upon their prosperity. All that he has left behind him is broken banks-broken fortunes-and broken hopes. How many will there be, at the end of two short years, who will rejoice in his elevation? How many besides the hungry officeholders? And how many will rue the day that that honest and upright man, Martin Van Buren, with fixed principles of action, was ejected from office to make room for "Old Tip?" As a violent 'Whig' said to us two days ago-"I am sorry to think I have assisted to elect Harrison: Van Buren's course, however wrong it was, and, I am not so sure now, as I was six months since, that it was wrong, was at least settled-his policy was fixed, and distinct-we could all shape our business to it without difficulty-things were gradually improving-confidence was being restored-business began to revive, and there was a prospect of better times. Now, with Harrison at the helm, all is afloat again-what we have is to be done away-what we are to have no one can tell-all is at loose ends-nothing fixed or established-confidence has vanished and hope has followed it. I wish Mr. Van Buren was again in the Presidential Chair." We thought to ourselves, these are the words of wisdom and truth; but alas, they come too late. We begin to taste the fruits of Federalism; and we prophesy that the reign of Harrison and taxation will long remain an epoch for Americans to look back upon with sorrow and shame.

6. May 7, 1841 Richmond Enquirer Richmond, VA

Article from Richmond Enquirer, May 7, 1841

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Messenger. Robt. McCarren, Assistant in C. H. Stores. Daniel Skillinger. Clerks in Collector's Office. Jno. D. Mites, D. W. Mixsell, Edw. Barton, SURVEYOR'S OFFICE. Marker. Chas. S. Jackson. Dr. Benj. R. Mears. The following remarks of a correspondent are, at this moment, entitled to attention. We should, perhaps, decline the publication, were it not that a meeting of the Stockholders of the bankrupt Bank takes place this day, by which the statements may be tested, and verified or disproved. The writer confidently asserts their truth, and appeals to the books of this polluted institution: and when it is remembered that the clerks and accountants were sworn to secrecy, and that every ingenious device was employed by those who were preying upon the funds confided to their care to conceal the truth from even the hazard of discovery, the suffering stockholders and the public at large are entitled to have the probe steadily and fearlessly applied: ### Important Disclosures for the Widow and Orphan! We speak advisedly upon good authority when we say, that the Bank of the U. S. was not broken alone by its cotton speculations and dealings in fancy stocks. We boldly assert, that seven millions of dollars of the suspended debts, occupying nine folio pages of the Leger, consists of loans to active and prominent Federal Whigs, during the last few years, and some of them made so recently as 1839 and 1840. To Thomas L. McKenny, there is charged the enormous sum of two hundred and fifty thousand dollars! To Daniel Webster, the small sum of one hundred tand ten thousand dollars-twenty-eight thousand dollars of which was over drafts in 1839 and 1840. To John S. Riddle, the moderate sum of one hundred thousand dollars! And to politicians in general of the Federal Whig party, an immense amount of money for the late and former Presidential Elections, thus sacrificing the money of the widow and orphan to promote political success at the polls. Harrison and Tyler were elected last year, but the living of the now desolate was squandered in "Log Cabin and Hard Cider" frolics. We call upon the stockholders' meeting of this day, the 4th May, to come out and publish to the world the debtors' names contained upon these nine pages of the Leger. We call upon Mr. Breck, whom we believe to be an honest and upright man, to do justice to the female portion of the stockholders, by letting us know who are the robbers of their mite, of their all. The honest part of this community, demand a total exposure of the Exchange Committee's loans and discounts for several years past. Mr. Lippincott, the chairman, owes it to his own character and credit, to say who are the borrowers of this debt of seven millions of dollars, and why is it that they were never called upon for payment. The half-pay officers of the British army and navy, many of them innocent and unsuspecting souls, deserve at least to know the condition upon which their money was expended in election campaigns! The stockholders are bound not to suppress any names of debtors to the Bank-pride may yet induce many a politician, lately promoted to place by its means, to pay what he owes to it. Statesmen and members of the Cabinet may yet have honor enough left to pay honest debts for the sake of the innocent stockholders. We expect the stockholders' meeting of this day, to give us all the particulars of this great indebtedness. H. We understand that some of the persons alluded to in the foregoing communication have been sued, and have filed affidavits of defence, swearing that they have paid the Bank in services-political services presumably are meant, as the persons referred to performed few other services for any body except political ones. "Double, double, toil and trouble." The Inquirer contains a call signed by thirty Whig citizens, for a meeting to express its "disapprobation of the appointments made in the Custom House by Jonathan Roberts and his committee-Josialı Randall and J. Hall Bready." It declares that "secret enemies are within the citadel." In an editorial article the Inquirer says: "We joined others in venturing to suggest one or two names, and only one or two; but inasmuch as we were not successful, it is right to infer that the Collector deemed such gentlemen as Messrs. Strine & Co. better suited to represent the morality, intelligence and integrity of the Whig party of Philadelphia, and to honor the character of the new Administration, than those of the respectable individuals alluded to.' The "Messrs. Strine & Co." alluded to, are persons involved in the charges of "pipe-laying" in New York, and who have received their reward in the new appointments. Ib.

7. May 25, 1841 Richmond Enquirer Richmond, VA

Article from Richmond Enquirer, May 25, 1841

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To this may, with great propriety, be added the following items in the account of April 1, 1839, as being essentially of the same nature with the fore-going: Bills discounted on other than personal security, $18,814,500 44 Real Estate, 982,046 99 Banking Houses, 422,761 93 Bonds and Mortgages, 313,627 13 $20,532,936 49 So disproportionate an investment of assets in such securities would render any bank essentially unsafe and unsound; and looking at the fluctuating character of the Stock market, make it highly problematical whether an institution thus circumstanced would not be obliged to succumb to the first commercial revulsion that might occur. It cannot be denied that this course of policy crippled the Bank, and compelled her to sue for money in Europe; and can it be satisfactorily explained, if Mr. Biddle left her prosperous on the 29th of March, 1839, how it happened that not quite five months after, and before any of those occurrences to which the prostration is now ascribed, before the "protest by Messrs. Hottinguer & Co.," before "the sales of post notes in the Fall of 1839," before "the publication of the first of January," before "the resumption," and before "the third suspension." On the 22d of August, 1839, Mr. Jaudon writes to Messrs. Humphreys and Biddle for £50,000, and tells them, "life or death to the Bank of the U. S. is the issue." We proceed now to a brief review of those points in regard to which the accuracy of the facts presented in the Report have been called in question. 1. As to Mr Biddle's own account: The first item of that account, at p. 51 of the pamphlet, is as follows: "Jan. 30, 1840. His note, due Feb. 2, 1842, with interest, being for 700 shares of Reading Railroad Stock, purchased of the Bank by his Agent, Jan. 3, 1839, $31,500 00." Mr. Biddle affirms that it was not until December, 1839, long after he left the bank, that he bought this stock of a stock broker. The Journal Entry of the Suspended Debt Department in relation to this item is as follows: "Feb. 3, 1841. Nicholas Biddle, to bills discounted suspended, for amount due from Nicholas Biddle, according to the following statement, with interest, from January 30, 1840, $31,500 00 "Sold by Thomas Biddle & Co. for account, J. Cowperthwaite, Cashier. 1838, Jan 29. 700 shares Reading Rail-road, at $45, $31,500 00 Interest 12 mos. to Jan. 1840, 1,890 00

8. September 15, 1841 Jeffersonian Republican Stroudsburg, East Stroudsburg, Milford, PA

Article from Jeffersonian Republican, September 15, 1841

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upon me citizens TO meet at e morning, at the Market House, to devise measures for the preservation of the peace, and protection of our citizens. The whites and negroes have had a terrible battle, in which several men are to and a number a badly reported wounded. have As been I have killed but few to write eastern I can but a of minutes mail, give before brief the close narration of the this affair. On last, it that a dreadful appears quarrel white the occurred evening in between before which several negroes and two men, the latter were badly wounded, with dirk knives. This occasioned considerable excitement, and added fresh fuel to the anti-negro flame, which has been increasing in intensity and volume, with threatening rapidity of late. About 9 o'clock last evening, a large concourse of people, without concert or arms, assembled at the of street and in the immediate the "Five of this or as is called Broadway, Points" junction city, Sixth vicinity it of here Nigger-town." A few persons in the mob, (which consisted of 3 or 400,) apparently without stones the negroes. neagainst any buildings deliberate of the design, the threw mob The groes immediately poured into a volley of bullets, from muskets and rifles, with which they had previously provided themselves in anticipation of an attack. The mob being unarmed, fled precipitately, and were for a square the who out a triumph blacks, hotly yelled pursued wild nearly shout their of houses. by and defiance, and then returned to During the firing a number of the negroes were stationed on the tops of their own and the adjoining houses, from which they levelled their pieces at the crowd. mob continued at bay till after midnight, by which time, thirty or the assailants arms, and The provided perhaps, themselves with forty of a cannon. advanced to the they the six-pounder position Thus loaded equipped occupied their they in early of the evening, cannon with of iron, and muzzle a about one disagainst fragments part building levelled hundred its yards tant, in which a large number of armed negroes were said to be stationed. After a few ineffectual shots from the small arms of the assailants, the cannon was discharged, but without effect. The negroes quickly and returned a heary their the whites stood houses, rallied, but their six pounder ground, fire from reloading and discharging cannon several times, and kept up also a brisk fire with their small arms. The conflict was terrible, but for the many, prompt of the the rearrival fortunately military lives silenced of the mob. the firing, stored peace and dispersed Since three o'clock this morning our city has enjoyed its usual repose, but these are apof a dreadful and attack upon the blacks to-night, course the prehensions which citizens concerted of will law of our exert themselves to are reof the number killed and on both ports abiding portion prevent. There wounded various sides, but it is impossible to ascertain the truth of these reports at present. The were the victors! What will be result of this? The negroes think of that! A crowd of the negroes people victorious have just window in pursuit some and informed a at my passed I am my by friend and of blacks, elbow that the city is all in confusion uproar again, and that terror-struck negroes are flying in all directions. There is no fighting or lynching, but the people, the mob, are taking the negroes into custody as fast as can be caught, with the deof a law reall colored residents of to quires sign enforcing they of this Ohio State, which give bond for their behavior, or will advised of progress this keep good you the leave the State. of negro war. The Bribe. It is well known that the Suspension resolution passed by the Legislature of 1840, through the of Gov. him, Bank of the U. S. cost influence the Porter, and NINETY-NINE signed by THOUSAND DOLLARS-the fact stands reis corded upon the books of the institution. It also stated good authority that a large sum of was also paid by Philfor the same object. canadelphia money upon other The Banks the facts in not be denied, and yet neither Governor nor any of his friends have attempted to explain by whom that money was received-whether by James M. Porter, or M. or others-or how was beBrodhead O.F it Johnson, divided D. tween those to whom it was paid-the part, if any, that was allowed Johnson, Brodhead, Cameron, Wharton, Porter, &c., or whether it was exclusively monopolized by the Governor and one or two of his friends. The advocates of Gov. Porter do not deny that the money was paid, and for the purpose above. If it was not a bribe to Gov. Porter and his they the facts to specified give political the People? friends, why W by do do they them what was monit was it, ey,-how inform disposed done of, who with received keepers the and how divided? The conscience of Porter, who are the country lihels, and to the grossest laboring flooding Wapose with falsehoods the under offisanction upon a People, State Committee, the passive cial of not one of whom sees their addresses before they appear in KNOW If dare them--if can deny the they public prints, dispute THE FACTS. they that received COCIA out and inform into Cov. Porter boldly the the bribe, and People what let them whose pockets the money went; the

9. September 21, 1841 Indiana State Sentinel Indianapolis, IN

Article from Indiana State Sentinel, September 21, 1841

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From the Philadelphia National Gazelle. BANK OF THE U. S.-The efforts of the Directors of the Bank of the United States to resuscitate the institution have now after an honest and earnest trial proved unavailing. The vast indebtedness of the Bank and the increasing urgency of creditors of every class have finally forced the Directors to abandon formally all projects of continuing the bank in any shape, except to wind up its concerns, a result which has been for some time fully anticipated. We announced on Saturday that the directors had made a general assignment of assets of the bank to five assignees. Theassignment, however, is not general, although it includes the great bulk of the property of the bank. it is dated the inst. and enumerates property of every description. The following stocks not previously set apart as security for debts here or abroad are set down in a schedule to the assigament, but are not assigned, being held almost valueless : "Cumberland Valley Road, 4020 shares: Franklin Railroad, 20220 shares; Somerset and Cumberland Turnpike, 4000 shares; Sunbury and Erie Railroad, 5233 shares; Johnston and Ligonier Turnnike, 200 shares ; Wrightsville, York and Gettysburg Rail Road, 2000 shares; Warren and Franklin Turnpike, 600 shares: Warren Tarnpike, 600 shares; Washington and Pittsburg Turnpike, 300; Roseburg and Mercer Turnpike, 200 shares; Philadelphia Rail Road, 30 shares; Union Canal, 134 shares; Erie Salt Company, 25 shares; Williams port Bridge Company, 300 shares Monongalia Nev. igation Company, 1000 shares." Respecting the propriety of the course now adopted by the directors there can be no doubt. The expenses of the Bank will. of course be greatly reduced, and there will be the better chance of saving the effects, which still remain, from sacrifices for partial interests.

10. January 25, 1842 Richmond Enquirer Richmond, VA

Article from Richmond Enquirer, January 25, 1842

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Imports. Exports. 1832 $5,907,504 $5,656,540 1833 7,070,368 2,241,859 1834 17,911,632 1,676,259 1835 13,131,447 6,477,775 1836 13,400,581 4,324,326 1837 10,516,414 4,692,730 1838 17,747,116 3,508,046 $85,685,462 $28,597,544 Gain $57,087,918 These are resuits of seven years experiments on the currency. The first year we neutralize the export-the next we gained about five millions-the third, which was the first year of the gold bill and silver bill, we gained sixteen millions-the fourth seven millions, and the seventh fourteen millions. The total imports were eighty-five and a half millions, (for I leave out all the fractions,) the total exports were twenty and a half, and the nett gain fifty-seven millions-this upon the registered importations and exportations; but when we make allowance for all that was brought in by passengers, and not entered at the custom-house, and a further allowance for all that came over-land from Mexico and from Canada, and a further allowance for the product of our own mines, and for the resusciated gold brought to light by the gold bill; when we allow for all these, the actual acquisitions of the seven years cannot be less than it was counted at in all the estimates of the times, to wit: EIGHTY MILLIONS OF DOLLARS, and averaging eleven and a half millions per annum. This sum, added to the twenty millions computed to be in the U. S. before we began our experiments, makes one hundred millions, as being the amount of our specie at the time that the Bank of the U. S. plotted and executed the second suspension, which still continues. These were our specie acquisition in seven years, rising as high as twenty millions clear gains in a single year. And how contemptible, by the side of such an acquisition of real money by the fair operations of commerce-how contemptible by the side of it appears the miserable lampblack and rag contrivance of the present Administration to emit fifteen millions of depreciated and depreciating paper money! But to proceed with the tables. The third, and last which I present, and which covers a period of three years, stand thus: