Bank of Washington - Washington, DC

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: October 12, 1839
Location: Washington, District of Columbia (38.895, -77.036)

Metadata

Model: gpt-5-mini
Short Digest: 32a786d2

Response Measures

None

Description

Article (1839-10-12) reports that banks in the District, including the Bank of Washington, have suspended specie payments following news from Philadelphia. No run or panic at this bank is described and no receivership or permanent closure is mentioned; classification therefore is a suspension (temporary) with no run. Cause attributed to actions of other banks (news from Philadelphia/United States Bank of Pennsylvania).

Events (1)

1. October 12, 1839 Suspension

Cause: Local Banks
Cause Details: Suspension followed news that the United States Bank of Pennsylvania and other Philadelphia banks had suspended; District banks adopted same course.
Newspaper Excerpt: SUSPENSION OF SPECIE PAYMENTS. The Banks of this District have suspended, and without creating any tumult, or indeed excitement.
Source: newspapers

Newspaper Articles (1)

1. October 12, 1839 The Madisonian Washington, DC

Article from The Madisonian, October 12, 1839

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Article Text

SUSPENSION OF SPECIE PAYMENTS. The Banks of this District have suspended, and without creating any tumult, or indeed excitement. When the news from Philadelphia reached us, it seemed to be taken for granted that our banks would be compelled to adopt the same course, and hence when the fact was announced there was no great disappointment occasioned. At the hour for opening yesterday morning we did not see a single person at the Patriotic Bank, nor more than five at the Bank of Washington, with notes in their hands. The papers north of us are busy in discussing the causes which led to this step on the part of the United States Bank of Pennsylvania and others in the city of Philadelphia. For the present we forbear making any comment.