Railroad Bank - Charleston, SC

Bank Information

Episode Type: Run → Suspension → Unsure
Bank Type: state
Start Date: October 23, 1857
Location: Charleston, South Carolina (32.777, -79.931)

Metadata

Model: gpt-5-mini
Short Digest: 4ae28f4e

Response Measures

Accommodated withdrawals, Full suspension

Description

Newspaper (Keowee Courier) describes the October 1857 money crisis with runs on several Charleston banks including the Railroad Bank; article reports heavy withdrawals and that the Railroad Bank was 'to suspend' or 'suspended' during the panic. The piece does not state whether the Railroad Bank later reopened or was closed permanently, so outcome is uncertain. OCR errors in the text were corrected where obvious (e.g., 'Bauk' -> 'Bank').

Events (2)

1. October 23, 1857 Run

Cause: Macro News
Cause Details: Part of the wider October 1857 money crisis/panic causing general runs and heavy withdrawals in Charleston
Measures: Banks prepared coin and accommodated depositors; extended hours/announced meeting to keep open until five o'clock
Newspaper Excerpt: the run on the Bank of South Carolina ... and the Railroad Bank ... the banks began run upon yesterday ... depositors came for coin
Source: newspapers

2. October 24, 1857 Suspension

Cause: Macro News
Cause Details: Suspension precipitated by the same money crisis and heavy withdrawals in the city during the 1857 panic
Newspaper Excerpt: the Railroad Bank ... was comout door run and the Railroad Bank ... suspend at an early ... day
Source: newspapers

Newspaper Articles (1)

1. October 24, 1857 Keowee Courier Walhalla, Pickens, SC

Article from Keowee Courier, October 24, 1857

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Article Text

The Money Crisis in mingled gloom Yesterday was a time of circles of and Charleston. excitement The in run the on money the caused Bank its of sus- the State, on Saturday, the which foreshadowing of had the pension, was only On Sunday it approaching pressure. Some that had money none in time to gather. and some that had little or and the banks, became terribly frightened, the subject of were anywhere, by no means Of course silent the ou panic spread were at once. their fears. of One as or weak, two of immediately the banks began that run upon yesterday spoken morning to prepare coin for a of the other them. for They their demanded balances or a considerable togethbanks Under this demand, of an part thereof. the unmistakeable indications Bank of South er with upon them, the were comout door run and the Railroad Bauk hour in the Carolina suspend at an early tend to lespelled to of course, did not it day. This, excite ient on the contrary Large besen the to all the Banks. were and came small general, depositors the as coin, and instead. bill-holders, In this, ineager to have which still stood, were Every quite dethe banks accommodate them. presenclined to promptly met as soon as of accommand was only did this spirit ordinary busted, and not continue during the for closing modation hours but as the usual bulletins hours were postiness approached, conspienous that they each bank, announcing demand upon cil before open to meet any afternoon, and would until five keep n'clock in the until halfthem, of the People's Bank, the in the case Under this arrangement, until about past continued five. pretty freely entirely ceasrun when it almost was three o'clock, four o'clock everything banks ed. Before and the officers of the or various about the quiet, their counters wait for remained doors, having at nothing to do, but the to day and a chance closed customer. quietly, Finally all the banks which having susthe run except the two the whole stood firmly, early in the day. Upon were much pended and the run substance. the exeitement in appearance than in from all the greater amount of specie drawn $100,000, The not probably reach the banks banks did of that was drawn by remains to and part other, so that it yet made. meet from each further demands, if any are as to how not for us to speculate if all the It is of the banks can stand, make depositors long any and bill holders would it resolve be proper to for their suspend, this nor or that Bank as able can and be us to indicate meet all demands that that still resolved to Thus far, all of their and stand, presented. seem confident of their ability determination to do so. long the pressure. and panic were shall How tell. If there were any last, no cause one for cau them, or if the cause no capital good had no crop and known, if we to pay our debts-if the country somewherewith bankrupt now and depended solvency, on were in the future to restore her opinion thing we might form some definite bc. Bat as then what that future would when we as to expect to see the time now, it we never solvent than we are and shall is be more to tell when the pressure panic shall Dublin QUEENS OF FRANCE. The upon THE Magazine, commenting wives University of the royal and Imperial thirtena of the France, lives states that there are whose but memory seventy-seven on of sin. out of dark stain of sorrow statement or there An exchange, is no in snimming up the says the others, eleven were divorced nine died Of died by the executioner; widowed two seven were soon three were very young were cruelly traduced; different deexiles; three thirteen evil; the were prisoners bad in and remainder.- the heart grees of broken made up the Deins heart who buried at St denied since the Twenty time of Charlemagne, were dragthe of the grave; their remains were the insults rest from the tomb, exposed to and then ged revolutionary populace, lime. flung of the into a trouch and covered with quickLove OF Gold.--This master late pas- Ceo THE terrible illustrated in the survivsion America was disaster. One of went the to the tral bottom ors says, with "several In rolls another poor of sto!en fellows place gold he remarks: around their waists I" sorrow to say it that to M-- play I believe of his friends went below of and some there they went into the presence hands. and their Maker with cards in their arglinian.