banks in Philadelphia - Philadelphia, PA

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: January 1, 1861*
Location: Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model: gpt-5-mini
Short Digest: bd444371

Response Measures

None

Description

The article is a historical note saying 'The banks in New York, Philadelphia and Boston suspended specie payment' in 1861 and that 'specie payment was resumed early in 1879'. This refers to a broad, system-wide suspension (Civil War era) and later resumption; no individual bank or run is described.

Events (2)

1. January 1, 1861* Suspension

Cause: Macro News
Cause Details: Nationwide suspension of specie payment during the outbreak of the Civil War (systemic/macro shock).
Newspaper Excerpt: 1861-The banks in New York, Philadelphia and Boston suspended specie payment; laws were passed in the various states to protect the banks from penalties;
Source: newspapers

2. January 1, 1879* Other

Newspaper Excerpt: specie payment was resumed early in 1879.
Source: newspapers

Newspaper Articles (1)

1. January 9, 1902 Connecticut Western News North Canaan, Salisbury, Canaan, CT

Article from Connecticut Western News, January 9, 1902

Click image to open full size in new tab

Article Text

December 30. 40-Titus, Roman emperor, born; died 81. 1504 Queen Isabella of Spain, patron of Columbus, died; born 1451. 1787-Otto von Kotzebue, explorer of the coast of Russian America, born in Revel, Russia; died there 1846. 1851-Lajos (Louis) Kossuth, Hungarian patriot and exile, visited Washington on invitation of congress. He died at Turin, where he had passed many years in exile, in 1894, aged 92. 1861-The banks in New York, Philadelphia and Boston suspended specie payment; laws were passed in the various states to protect the banks from penalties; specie payment was resumed early in 1879. 1893-Sir Samuel White Baker, the noted African explorer, died at Newton-Abbot, Devonshire; born 1821. 1898-Matios Romero, Mexican embassador to the United States, died in Washington; born 1836,