1911. Bank of Washington (Washington, DC)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
May 12, 1837
Location
Washington, District of Columbia (38.895, -77.036)

Metadata

Model
gpt-5-mini
Short Digest
f4dc7359

Response Measures

Full suspension

Description

During the Panic of 1837 the Bank of Washington experienced at least one run (May 12) and suspended specie payments in mid-May 1837; by a board resolution of 29 Aug 1837 effective Sept 1 the bank arranged to resume specie redemptions and by late September was listed among specie-paying banks. OCR errors in some articles corrected (e.g., dates and phrasing).

Events (3)
1. May 12, 1837 Run
Cause
Macro News
Cause Details
General panic and contagion from widespread suspensions around the country (Panic of 1837) prompted depositors to withdraw specie.
Measures
Issued printed notices declaring ability to fulfill engagements; President, Directors and Cashier pledged private fortunes to meet claims; public assurances intended to restore confidence.
Newspaper Excerpt
a heavy run has been made on the Bank of the Metropolis today, and one on the Bank of Washington, but to no great amount.
Source
newspapers
2. May 16, 1837 Suspension
Cause
Macro News
Cause Details
Forced to suspend specie payments due to severe pressure from the nationwide banking panic and heavy withdrawals following other banks' suspensions.
Newspaper Excerpt
The Bank of Metropolis and the Bank of Washington stopped!... they have been obliged to yield to the vigorous pressure made upon them.
Source
newspapers
3. September 1, 1837 Reopening
Newspaper Excerpt
That on and after the first of September next the notes of this Bank be redeemed in specie. ... the same having nearly all been received since the suspension of specie payments.) ... payable in notes current in the District of Columbia. W. GUNTON, President. JAS. ADAMS, Cashier. (Board resolution dated 29th August 1837.)
Source
newspapers

Newspaper Articles (20)
1. May 15, 1837 The Herald New York, NY
Article from The Herald, May 15, 1837

Click image to open full size in new tab

Article Text

bank suspensions. [Correspondence of the Herald.] WASHINGTON, May 12th, 1837. The whole city is in a state of alarm and confusion. The "Experiment" is beginning to operate at home and the people here have become terrified by the appearance of things. This morning the Patriotic Bank of Washington and the Union Bank of Georgetown have suspended specie payments; the former till it learns what the banks of Baltimore intend to do, and the latter permanently. This IS the second instance of suspension of the Patriotic Bank, and its credit will of course be prostrated. A heavy run has been made on the Bank of the Metropolis today, and one on the Bank of Washington, but to no great amount. The Secretary of the Treasury, in order to sustain the former, being a depository of the Government, has given it a draft OR the Mint at Philadelphia for $200,000, and in one case has become responsible himself, to the amount of $20,000, to an individual of this eity, who made on this bank a demand for specie to that amount. The alarm is nevertheless so great, that the banking house and street in front of it, are crowded with applicants for specie. Both the Bank of the Metrop lis and the Bank of Washington think they can sustain themselves, and have issued printed notices declaring their "ability to fulfil the engagements and liabilities of the banks, having assets to nearly double the amount of their liabilities," and have therefore determined to continue specie payments. The President, Directors and Cashier of the Bank of Washington have, moreover, pledged individually and collectively "their private fortunes for all just claims against the institution." This declaration has restored confidence as to that bank, but the distrust and suspicion in regard to the other still continue, and the rush is unabated. I presume it will be able to sustain itself, aided as it is by the Government, unless a general suspension throughout the country becomes necessary. We are in an awful condition. The notes of the Virginia Banks of the best standing will scarcely be taken at all, and when they are received, even those of the Deposite Banks, they are at from 5 to 10 per cent. discount. Groups of citizens are seen at almost every shop-door, listening to accounts of failures, and awaitthe fate of our city banks.

2. May 18, 1837 The Herald New York, NY
Article from The Herald, May 18, 1837

Click image to open full size in new tab

Article Text

Important from the South. The express mail brings us letters from our various private correspondents of the highest importance. Congress is meeting-legislatures are meeting-banks breaking-every thing in confusion. Read and reflect. [Correspondence of the Herald.] WASHINGTON, May 16, 1827. A faint ray of light IS beginning to dawn on the condition of our country. President Van has issued his proclamation an of in September next, to gloomy meeting Buren congress calling adoptsach early measures as the exigencies of the nation demand. How mortifying to be thus obliged to retrace his and to acknowledge his of associates in bringing the country a steps, his publicly folly into such and state that of bankruptcy! In any other government, men lose their heads, and deserve to do so. But it late to do good, and it is part error. His predecessor dom is would never to correct too the would of never wis- if have done it, but would have persisted in wrong, the whole country had been up in arms. The bankruptcy of the pet banks in other places so enraged the government here, that they swore in their wisdom that the pet bank here should be suspended at every risk. The wiseagres have still to learn the rudiments of finance. They thought that they could keep a bank, with a capital of about $300,000, and loans to the amount of near two millions, in a condition to shell out specie, while all the other banks had been obliged to suspend payment. The absurdity of this attempt was demonstrated this morning by a suspension of specie payments by the Bank of the Metropolis, notwithstanding the bluster of the adminisand the public and solemn pledge of the predirectors and cashier of that sident, tration, institution. good to stand The Bank of Washington, finding it not alone, has followed suit, and now we are all adrift again. The corporations of the cities of this district talk of issuing their "shin plasters" of the denominations of one and two dollars, to the amount of ten or twenty thousand dollars each, to serve as change. The Secretary of the Treasury has issued a notice in relat on to the deposites, and the payment of merchants' bonds, which is to be suspended till after the meeting of congress on the first Monday in September next. A curious exhibition of trickery was made yesterday, to keep up appearances in the Metropolis Bank. The president would give his check for fifteen hundred or two thousand dollars to one of the minions of the bank, who presented the check, and the specie was very slowly counted out by the teller, consuming in the process about an hour and a half, while the legitimate note holders had to wait till the operation was performed. After he had received the money in his bag, he would secretly slip round to a private door, and redeposite the specie he had obtained. This scheme was practised the wholeday when it was concluded to suspend payment, which was announced this morning. The agony is ever for the present, but the community are greatly. alarmed at the appearance of things here. The butcher, the farmer, meal seller, &c. refuse to take any thing but specie, and the specie has almost entirely disappeared, as if by magic. Some are at a loss to know what to do for bread, meat, and other articles of sustenance; for though they have bank notes, they cannot get the An necessary articles of consumption for them. honest tar, who had just been paid off in your city with the notes of a pet bank there, had occasion to visit Washington, and yesterday presented his notes to the pay teller of the Metropolis Bank for specie. He was told that he could not get it, and that his money would not be received. He hurried off immediately to the Secretary of the Navy, who said he was Deextremely sorry, but could do nothing for him. termined not to be thrown off in that way, he hastened to his excellency the President of the United States; and the President, like the Secretary, was extremely sorry, but could do nothing for him. The honest tar became indignant, and not having the fear of Martin before his eyes, he cried out, "damn your sorrew, sir, I want my money; your sympathy is not worth a sous markee to me; it's the specie I wants, and, blast your eyes, the specie I'll have by hook or by creok. NEW ORLEANS, May 8, 1837-10, A. M. Great things are in preparation. You must know that the French Banks, viz: the State, the Improvement, the Planters, and the Citizens, are deadly opposed to the twelve American Institutions, viz : the Canal, Gas Light, Commercial, Atchapalaga, City, Mechanics, Carrolton, Orleans, Union, Bank of LouMerchants, and Exchange. Forstall, Presiisiana, dent of the Citizen, has said, that he will break the American mensters-that he dares hem 10 discount it is in contemplation among the American Institutions, to jein a rectors dollar. of Now, hand-in- the set di hand, make a common depository of their specie, tle up every day, but not to draw specie for their

3. May 19, 1837 Vermont Phœnix Brattleboro, Bellows Falls, Ludlow, VT
Article from Vermont Phœnix, May 19, 1837

Click image to open full size in new tab

Article Text

Bank of the Metropolis. -Government drafts came on yesterday, we are told, for specie to be paid by the deposite Banks here, for the purpose of re inforcing the Bank of the Metropolis and the Bank of Washington. These drafts were of course not honored. A counter current started South immediately on the announcement that there were specie paying Banks at Washington, and every dollar of demands upon them which can be mustered any where, will immediately be presented for payment. It willsoon be known, therefore, whether in the midst of a general suspension, one little point can be made an exception. If it can, the effect would be only mischievous, for in order that a Bank under such circumstances should maintain specie payments, it must pay off its debts and stop business. It can have no influence on the state of the currency. It must be like the little bit of meat which they say the Irish at home suspend over their dinnera thing to be pointed at, but not to be used. N. Y. Jour. of Com. May 16.

4. May 25, 1837 Herald of the Times Newport, RI
Article from Herald of the Times, May 25, 1837

Click image to open full size in new tab

Article Text

WASHINGTON, May 16, 1837. The Bank of Metropolis and Bank of Washington stopped!-Notwithstanding - the Government was to sustain these Banks and messengers were despatched to the mint for that purpose, still they have been obliged to yield to the vigoreus pressure made upon them.For the last few days the counter of the bank of the Metropolis presented a strange scene, the brutal negro, the bully ruffian, the impudent cyprian, the nervous hypochondriac and the delicate female were all blended in one promiscuous mass, seeking specie for their notes. All was well until this morning, when the frightful disclosure was made to the surrounding crowd that the Bank could no longer pay in gold and silver-though handbills have been issued declaring they had ample means to answer any just demand. Extract from the Bank of Metropolis notice. Resolved, That we do for the present, in accordance with public opinion, suspend the payment of specie, to be resumed as soon as a change in the Banking operations of the country shall render it practicable. Resolved, That the conduct of the private depositors in our neighborhood, with few exceptions, has been highly honorable, while at the same time we repeat the soleinn assurance of our ample means, besides a large surplus to answer every demand against us. JOHN VAN NESS, President. GEO. THOMAS, Cashier.

5. May 25, 1837 Litchfield Enquirer Litchfield, CT
Article from Litchfield Enquirer, May 25, 1837

Click image to open full size in new tab

Article Text

THE ENQUIRER. LITCHFIELD, MAY 25, 1837. The Legislature.-From this body we learn very little of importance. Week before last on Friday morning the adjourned over to Tuesday afternoon.On then assembling, it was found there was no quorum present and on Wednesday the House was thinly attended. Thus was nearly a week lost, and we suppose the members getting their pay from the Treasury for the whole period. No business of consequence has yet been accomplished. But few committees have reported and no appointments made.We learn that the Litchfie!d county members have had one or two county meetings, but recommended no appointments of consequence. His honor Judge H. P. Welch, we understand, hangs by the gills" in county meeting it is not probable he will be recommended for the office of Judge again, but whether the House will take the responsibility of putting him in remains to be seen. In county meeting he had but 14 votes out of the 33 members. This looks rather squally for His Honor when all his own troops cannot be brought up to the scratch. We learn further, that the small bill petitions-that is, for allowing the Banks to issue bills of $1 and $2-are not likely to be granted. If they should not, the state will probably soon be flooded with either small bills from Massachusetts and Rhode Island, or shinplasters will have to come into use. There is no other alternative. From the little experience we already have had, we imagine the community are satisfied that we cannot get along for change with our present means. KT Since the preceding page, and the above notice were in type, we have received a slip from the Hartford Courier, containing an account of the proceedings of Saturday and Monday, but for which we have not room. Nothing of much consequence was transacted on either day On Saturday, the appointments of County Court and Probate Judges for Middlesex County, and of County Court Judges and Sheriff for Windham were made-Hezekiah Lyon is the Sheriff T'appointed-theothers webelieve same as last vear. Bills repealing the charters of the Stamford, N. Haven City, and Quinebaug Banks, had two readings and referred to committee on Banks. An abstract showing the actual condition of the several Banks in this State, laid on the table, and 2000 copies ordered be to printed. On Monday, the bill relating to settlement of inhabitants in towns, prohibiting their admission by vote of civil authority and selectmen, or by being appointed to civil offices, was read second time, and postponed for a third reading. The answer of the Directors of the City Bank at New-Haven to the Report of the Committee appointed to examine that institution, was presented-and on the motion to print 1000 copies, gave rise to considerab deba Messrs. Raymond, Phelps of Woodbury, Willey, Curtis of Watertown, Carrington and Donaghe in favor and Messrs. Woodruff and Curtis of Monroe prevailed. ficated as We have so crowded our coluought to be to from other papers respecting up of children at failures," legislative record, &c.e country. In a room left for editorial speculationently chargeable, bes in breakings of as CONGRESS is to be er brittle materials Monday of September to meet ad unfortunate heas least weighty considerations" are the which, at is rathPresident deigns to offer in his incerned, jild and equable this step. port Uncommon Occurrence.-A gentleman who started for the West' last week, called and paid up his printer's bill before leaving! So says a western New-York paper. We can tell a little better story than this. A friend and townsman of ours started for Ohio a few days ago; but before going he called upon us, and not only paid up arrearages, but paid for the Enquirer two years and a half in advance ! May health, happiness, and abundance follow in his train. Hear what the government pet-Mr. Van Buren's par excellence organ-the Albany Argus says of the Postmaster General's order to pay for postage in specie. Not one of the lesser lights in the region hereabout dare utter such censure : We understand that an order was received yesterday by the Postmaster of this city, from the department at Washington, directing that all payments for postage should be paid in specie, and that it should be retained in the office, subject to the draft of the general office, or to the payment of contractors, expenses, &c. We regret the supposed necessity for such order ut this moment as it can scarcely fail to lead to much public inconvenience, and to serious loss of revenue to the department.-Albany Argus. The Government Pets.-The Bank of the Metropolis and the Bank of Washington undertook to continue to pay specie after the other Banks had stopped, backed by the influence of the government but after two or three days experiment," such was the constant run upon them for specie that they also yielded. or As the news of the suspension of epecie payments by the New York Banks travels South and West, all the banks follow suit. Proceeding southwardly, the news is met that in Mississippi and Alabama and Louisiana the banks have there anticipated the movement, and also suspended. In New York, they stopped on the 10th, in Natchez on the 8th, and in New Orleans, six of the banks stopped on the 12th, and it was believed the whole would follow in a day or two after. East, West, North and South, we do not hear of a single bank (except the New Haven City Bank) which has not yielded to the force of circumstances, and suspended specie payment. Sogoes Mr. Van Buren's specie humbug! or The report in our last paper, from New Haven, about the breaking of the Bridgeport Bank, turns out to be untrue. The Cashier says no process has been served upon it, and that no bank in the state is in more sound or solvent state. MR. ADAMS-Please inform your readers why it is that the convenience and interests of community should be made tributary to either the EASE or INDOLENCE of Post Masters or their Clerks ? Had not the office better be open bef fore o' clock at this season of the year, and thereby add to the eliances of replying to letters from the south by first return mail Furthermore, is a Clerk in Post Office absolved from or disgraced by an attentive and civil demeanor to the cusACCOMMODATION. tomers of the office? MARRIED. In Torringford, Mr. Eber N. Gibbs, of Farmington, to Miss Abigail W Hudson. In Warren, Mr. Daniel E. Brinsmade, of Washington, to Miss Orphey Sackett, daughter of Benj. Sackett, Esq. In Hartford, Frederick Ellsworth Mather, Esq. of New to Miss Ellen Pomeroy Goodrich, adopted to to Miss Jane daughter Haven, Miss Sarah In Wilton, York, of Elizur Mr. Ann Goodrich, James Lewis, Middlebrook. H. both Esq. Smith, of East Mr. printer, Hartford. Henry of Wright NewIn Mr. Nathan Burwell. of Southbury,

6. September 2, 1837 The Madisonian Washington, DC
Article from The Madisonian, September 2, 1837

Click image to open full size in new tab

Article Text

BANK OF WASHINGTON. 29TH AUGUST, 1837. T the regular meeting of the Board this day, present, A the President and nine of the Directors, it was unamimously Resolved. 1st. That on and after the first of September next the notes of this Bank be redecmed in specie. 2d. That all deposites remaining undrawn. (the same having nearly all been received since the suspension of specie payments.) and all future deposites, other than such as may be made in specie, and be at the time so entered, be payable in notes current in the District of Columbia. 3d. That all collections for Banks and individuals, and all curtails. be received in notes current as above; and that all sums so collected be paid in like funds. W. GUNTON, President. Gteod6 JAS. ADAMS, Cashier.

7. September 6, 1837 The Madisonian Washington, DC
Article from The Madisonian, September 6, 1837

Click image to open full size in new tab

Article Text

BANK OF WASHINGTON. 29TH AUGUST, 1837. T the regular meeting of the Board this day, present, A the President and nine of the Directors, it was unanimously Resolved, 1st. That on and after the first of September next the notes of this Bank be redeemed in specie. 2d. That all deposites remaining undrawn, (the same having nearly all been received since the suspension of specie payments,) and all future deposites, other than such as may be made in specie, and be at the time so entered, be payable in notes current in the District of Columbia. 3d. That all collections for Banks and individuals, and all curtails. be received in notes current as above; and that all sums so collected be paid in like funds. W. GUNTON, President. 6teod6 JAS. ADAMS, Cashier.

8. September 9, 1837 The Madisonian Washington, DC
Article from The Madisonian, September 9, 1837

Click image to open full size in new tab

Article Text

BANK OF WASHINGTON. 29TH AUGUST, 1837. T the regular meeting of the Board this day, present, A the President and nine of the Directors, it was unanimously Resolved, 1st. That on and after the first of September next the notes of this Bank be redeemed in specie. 2d. That all deposites remaining undrawn, (the same having nearly all been received since the suspension of specie payments,) and all future deposites, other than such as may be made in specie, and be at the time so entered, be payable in notes current in the District of Columbia. 3d. That all collections for Banks and individuals, and all curtails, be received in notes current as above; and that all sums so collected be paid in like funds. W. GUNTON, President. 6teod6 JAS. ADAMS, Cashier.

9. September 12, 1837 The Madisonian Washington, DC
Article from The Madisonian, September 12, 1837

Click image to open full size in new tab

Article Text

BANK OF WASHINGTON. 29TH AUGUST, 1837. T the regular meeting of the Board this day, present, A the President and nine of the Directors, it was unanimously Resolved, 1st. That on and after the first of September next the notes of this Bank be redeemed in specie. 2d. That all deposites remaining undrawn, (the same having nearly all been received since the suspension of specie payments,) and all future deposites, other than such as may be made in specie, and be at the time so entered, be payable in notes current in the District of Columbia. 3d. That all collections for Banks and individuals, and all curtails, be received in notes current as above; and that all sums so collected be paid in like funds. W. GUNTON, President. 6teod6 JAS. ADAMS, Cashier.

10. September 14, 1837 The Madisonian Washington, DC
Article from The Madisonian, September 14, 1837

Click image to open full size in new tab

Article Text

BANK OF WASHINGTON. 29TH AUGUST, 1837. T the regular meeting of the Board this day, present, A the President and nine of the Directors, it was unanimously Resolved, 1st. That on and after the first of September next the notes of this Bank be redeemed in specie. 2d. That all deposites remaining undrawn, (the same having nearly all been received since the suspension of specie payments,) and all future deposites, other than such as may be made in specie, and be at the time so entered, be payable in notes current in the District of Columbia. 3d. That all collections for Banks and individuals, and all curtails. be received in notes current as above; and that all sums so collected be paid in like funds. W. GUNTON, President. 6teod6 JAS. ADAMS, Cashier.

11. September 21, 1837 The Madisonian Washington, DC
Article from The Madisonian, September 21, 1837

Click image to open full size in new tab

Article Text

BANK OF WASHINGTON. 29TH AUGUST, 1837. T the regular meeting of the Board this day, present, A the President and nine of the Directors, it was unanimously Resolved. 1st. That on and after the first of September next the notes of this Bank be redeemed in specie. 2d. That all deposites remaining undrawn, (the same having nearly all been received since the suspension of specie payments,) and all future deposites, other than such as may be made in specie, and be at the time so entered, be payable in notes current in the District of Columbia. 3d. That all collections for Banks and individuals, and all curtails. be received in notes current as above; and that all sums so collected be paid in like funds. W. GUNTON, President. 6teod5 JAS. ADAMS, Cashier.

12. September 23, 1837 The Madisonian Washington, DC
Article from The Madisonian, September 23, 1837

Click image to open full size in new tab

Article Text

BANK OF WASHINGTON. 29TH AUGUST, 1837. T the regular meeting of the Board this day, present, A the President and nine of the Directors, it was unanimously Resolved, 1st. That on and after the first of September next the notes of this Bank be redeemed in specie. 2d. That all deposites remaining undrawn, (the same having nearly all been received since the suspension of specie payments,) and all future deposites, other than such as may be made in specie, and be at the time so entered, be payable in notes current in the District of Columbia. 3d. That all collections for Banks and individuals, and all curtails. be received in notes current as above; and that all sums NO collected be paid in like funds. W. GUNTON, President. 6teod6 JAS. ADAMS, Cashier.

13. September 23, 1837 The Madisonian Washington, DC
Article from The Madisonian, September 23, 1837

Click image to open full size in new tab

Article Text

BANK OF WASHINGTON. 29TH AUGUST, 1837. T the regular meeting of the Board this day, present, A the President and nine of the Directors, it was unanimously Resolved, 1st. That on and after the first of September next the notes of this Bank be redeemed in specie. 2d. That all deposites remaining undrawn, (the same having nearly all been received since the suspension of specie payments,) and all future deposites, other than such as may be made in specie, and be at the time so entered, be payable in notes current in the District of Columbia. 3d. That all collections for Banks and individuals, and all curtails. be received in notes current as above; and that all sums so collected bé paid in like funds. W. GUNTON, President. 6teod6 JAS. ADAMS, Cashier.

14. September 28, 1837 The Madisonian Washington, DC
Article from The Madisonian, September 28, 1837

Click image to open full size in new tab

Article Text

SPECIE-PAYING BANKS.-The following list of banks that were paying specie at the last advices, has been compiled by a friend from the recent statement made in various newspapers. It holds out great encouragement to others to go on and do likewise, now the panic is so much over. People's Bank, at Bangor, Maine ; Waldo Bank, at Belfast, do.; Belfast Bank, do. do.; Mequinticook Bank, at Camden, do.; Lime Rock Bank, at Thomaston, do.; Connecticut River Bank, at Roxbury, Massachusetts Yarmouth Bank, at Barnstable, do.; City Bank of New Haven, Conn; Brooklyn Bank, at Brooklyn, New York ; Bank of Rome, at Rome, do.; Patterson Bank, at Patterson, New Jersey ; Franklin Bank, at Washington, Penn.; Northwestern Bank of Virginia, at Wheeling, Va.; Insurance Bank, at Columbus, Ga.; Bank of Columbus, do. do.; Commercial Bank of Macon, do.; Central Bank, at Milledgeville, do.; Citizen's Bank, at New Orleans, La.; Consolidated Association Bank, do. do.; Louisville Savings Institution, at Louisville, Ky.; Shawneetown Bank, at Shawneetown, Illinois; Dayton Bank, at Dayton, Ohio ; Dank of Marietta, at Marietta, do.; Bank of Xenia, at Xenia, do.; Ohio Trust Company, at Cincinnati, do.; Pontiac Bank, at Pontiac, Michigan.-Globe To which may be added, the Tradesmen's Bank, at New York ; the Canal lank, at New Orleans ; and the Bank of Wasington, in this City.

15. September 30, 1837 The Madisonian Washington, DC
Article from The Madisonian, September 30, 1837

Click image to open full size in new tab

Article Text

BANK OF WASHINGTON. 29TH AUGUST, 1837. T the regular meeting of the Board this day, present, A the President and nine of the Directors, it was unanimously Resolved, 1st. That on and after the first of September next the notes of this Bank be redeemed in specie. Q.d. That all deposites remaining undrawn, (the same having nearly all been received since the suspension of specie payments,) and all future deposites, other than such as may be made in specie, and be at the time so entered, be payable in notes current in the District of Columbia. 3d. That all collections for Banks and individuals, and all curtails, be received in notes current as above; and that all sums so collected be paid in like funds. W. GUNTON, President. 6teod6 JAS. ADAMS, Cashier.

16. October 3, 1837 The Madisonian Washington, DC
Article from The Madisonian, October 3, 1837

Click image to open full size in new tab

Article Text

BANK OF WASHINGTON. 29TH AUGUST, 1837. T the regular meeting of the Board this day, present, A the President and nine of the Directors, it was unanimously Resolved, 1st. That on and after the first of September next the notes of this Bank be redeemed in specie. 2d. That all deposites remaining undrawn, (the same having nearly all been received since the suspension of specie payments,) and all future deposites, other than such as may be made in specie, and be at the time so entered, be payable in notes current in the District of Columbia. 3d. That all collections for Banks and individuals, and all curtails. be received in notes current as above; and that all sums so collected be paid in like funds. W. GUNTON, President. 6teod6 JAS. ADAMS, Cashier.

17. October 5, 1837 The Madisonian Washington, DC
Article from The Madisonian, October 5, 1837

Click image to open full size in new tab

Article Text

BANK OF WASHINGTON. 29TH AUGUST, 1837. T the regular meeting of the Board this day, present, A the President and nine of the Directors, it was unanimously Resolved, 1st. That on and after the first of September next the notes of this Bank be redeemed in specie. 2d. That all deposites remaining undrawn, (the same having nearly all been received since the suspension of specie payments,) and all future deposites, other than such as may be made in specie, and be at the time so entered, be payable in notes current in the District of Columbia. 3d. That all collections for Banks and individuals, and all curtails. be received in notes current as above; and that all sums so collected be paid in like funds. W. GUNTON, President. 6teod6 JAS. ADAMS, Cashier.

18. October 7, 1837 The Madisonian Washington, DC
Article from The Madisonian, October 7, 1837

Click image to open full size in new tab

Article Text

BANK OF WASHINGTON. 29TH AUGUST, 1837. T the regular meeting of the Board this day, present, A the President and nine of the Directors, it was unanimously Resolved, 1st. That on and after the first of September next the notes of this Bank be redeemed in specie. 2d. That all deposites remaining undrawn, (the same having nearly all been received since the suspension of specie payments,) and all future deposites, other than such as may be made in specie, and be at the time so entered, be payable in notes current in the District of Columbia. 3d. That all collections for Banks and individuals, and all curtails. be received in notes current as above; and that all sums so collected be paid in like funds. W. GUNTON, President. 6teod6 JAS. ADAMS, Cashier.

19. October 24, 1837 The Madisonian Washington, DC
Article from The Madisonian, October 24, 1837

Click image to open full size in new tab

Article Text

BANK OF WASHINGTON. 29TH AUGUST, 1837. T the regular meeting of the Board this day, present, A the President and nine of the Directors, it was unanimously Resolved, 1st. That on and after the first of September next the notes of this Bank be redeemed in specie. 2d. That all deposites remaining undrawn, (the same having nearly all been received since the suspension of specie payments,) and all future deposites, other than such as may be made in specie, and be at the time so entered, be payable in notes current in the District of Columbia. 3d. That all collections for Banks and individuals, and all curtails. be received in notes current as above; and that all sums so collected be paid in like finds. W. GUNTON, President. 6teod6 JAS. ADAMS, Cashier.

20. February 14, 1884 Evening Star Washington, DC
Article from Evening Star, February 14, 1884

Click image to open full size in new tab

Article Text

Death of a Venerable Citizen. EDWARD SIMMS PASSES AWAY AT THE AGE OF NINETY YEARS. Edward Simms, one of the oldest and most prominent citizens of Washington, died about half-past eleven o'clock last night at his home, on c street, between 3d and 41/4 streets northwest. Mr. Simms celebrated his ninetieth birthday a month ago. He was a native of Montgomery county, Md. and made his advent in Washington when a lad about 12 years old upon a load of oats destined for the President's stables. President Jefferson happened to be at the stables when the oats arrived. Seeing a strange boy there he greeted him with the question: "How did you get here my boy?" Young Simms, who had never seen a President before, was struck with awe, and blurted out: "I came with the oats." This story was often related by Mr. "Simms himself. Having come with the oats, and being a boy of considerable ambition, he located himself in Georgetown, and set himself to learning the trade of carpenter and cabinetmaker, the two crafts being then generally combined. After serving out his time he did not long work at his trade. Anxious to be his own master, he went into the grocery business with Mr. Littlejohn, of Georgetown, and after Mr. Littlejohn's death conducted the business himself. IN THE WAR OF 1812 Meanwhile, however, the war of 1812 was waged, and Mr. Simms, then a youth of stalwart frame, took part in the defense of Washington and other military operations. He was engaged at the battle of Bladensburg, and after Gen. Ross retired from this vicinity, marched with other troops to join in the expected engagement with the British army in the neighborhood or Baltimore, but at Ellicott's Mills the troops received the news of Gen. Ross' death at the battle of North Point, and returned to this city. Mr. Simms was taken from the ranks, together with other artisans, to help repair the damage done to the public buildings by the invading army. He worked as a carpenter on the War department building, and made a number of the doors for that building. When the old War department building was about to be torn down Mr. Simms obtained permission from the Secretary of War to take away one of the doors he had made, and this he valued as memento of his early days and a specimen of his handicraft. Mr. Simms was one of the eight survivors of the Associated Soldiers of the war of 1812, who held their annual meeting September 12th last at the home of John D. Clark. No. 1203 H street northwest. After Mr. Simms' active military experience closed, with the end of the war of 1812, he was for many years connected with the militia of the District, and he took part in the reception of Lafayette and many other public events in which the militia of the District participated. HIS BUSINESS PROSPERED under careful, honest and intelligent management until he became one of the leading and most popular business men of the city. He was engaged for many years as a contractor, supplying stores to the government, and amassed a comfortable fortune. He was a stockholder and director in the Bank of Washington for a number of years. When the pante came during President Jackson's administration, that ruined many banks, an incident occurred which showed how good a name Mr. Simms had made in business circles. As all banks were threatened, the directors of the Bank of Washington feared that a run would be made upon them which might imperil the bank. No one would advance money at such a critical time to any bank. Mr. Simms was consulted in the emergency. With the promptness that characterized all his business operations, he went at once to a number of friends and by simply telling them that he needed money secured thousands of dollars on his personal credit. This money he placed in the bank as a depositor and thus secured it against the dangers which threatened It. Mr. Simms was one or the original members also of the firm or Lewis Johnson & Co., bankers. In the later years of life, in talking with young business men, he always earnestly impressed upon them the importance and advantage of establishing a good name. He often referred to his experience as a member of the firm of Lewis Johnson & CO. When the bank was opened and the names of the members of the firm were announced, depositors at once came to them, and they were soon engaged in a thriving business, though, Mr. Simms said, he never had advanced one cent to form a capital. When Mr. Simmis retired from the firm, he received a very large sum as his share of the profits, which he considered as the interest received on his good name. He was upright, exact and conscientious in all his alings. Personally he was very much beloved. For nearly a score of years be had not been engaged in active business. His health was well preserved, and almost to the day of his death he appeared vigorous and was frequently seen on the streets. He attended generally the meetings of the Oldest Inhabitants' society, and was much Interested in the growth of the city, with the history of which his name is so closely connected. Mr. Simms, however, had not been out of his house for several weeks, though, he was not considered to be seriously 111. Last Thursday he was attacked with pneumonia, which terminated fatally. He was a widower, but leaves a son and four daughters. One of his sons, the late Dr. Simms. died just a year ago yesterday. Arrangements were being made to-day to have the funeral take place Saturday morning from St. Aloysius church, of which the deceased was a member.