19964. Railroad Bank (Charleston, SC)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
November 28, 1860
Location
Charleston, South Carolina (32.777, -79.931)

Metadata

Model
gpt-5-mini
Short Digest
f2775e93

Response Measures

None

Description

Multiple contemporaneous newspapers report the Railroad Bank (Charleston, SC) suspended specie payments on or about Nov 28, 1860. Articles link suspensions to the political/secession crisis; no article mentions a depositor run, receivership, or permanent closure. I classify this as a suspension (likely temporary) with probable later resumption, so 'suspension_reopening' is chosen. Bank type not specified in articles.

Events (1)

1. November 28, 1860 Suspension
Cause
Macro News
Cause Details
Suspended specie payments amid the South Carolina secession/political crisis (late Nov. 1860); reported together with other state banks suspending due to tensions around secession and associated financial strain.
Newspaper Excerpt
The State Bank of South Carolina, the Bank of the State of South Carolina and the Railroad Bank, all suspended specie payments to-day.
Source
newspapers

Newspaper Articles (8)

Article from New Orleans Daily Crescent, November 29, 1860

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Article Text

DOMESTIC INTELLIGENCE. Bank Suspensions in Charleston. CHARLESTON, Nov. -The State Bank of South Carolina, the Bank of the State of South Carolina and the Railroad Bank, all suspended specie payments to-day. The Planters' and Mechanics' Bank will surely suspend to-morrow. New York Money Market. NEW YORK, Nov. 28.-The money market is lightening up, and transactions are carried on with more energy. Sterling exchange ruled firm to-day at 105, the asking price for bankers' bills. Sterling Bxchange. NEW YORK, Nov. 27.-Sterling rules steady, with a fair demand. Bunkers' bills are selling at 103@ 104, and commercial do. at 101@102. Action of the Georgia Brokers. AUGUSTA, GA., Nov. 27.-The money brokers here refuse to buy bills on all banks outside the State of Georgia. Bank Suspension in Macon, Ga. MACON, GA., Nov. 27.-The Manufacturers' Bank of Macon has suspended specie payment, and will probably wind up.


Article from Worcester Daily Spy, November 29, 1860

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Article Text

Failure of the South Carolina Banks-Free States "Repudiated." CHARLESTON, S. C., Nov. 23 -The Bank of the State of South Carolina and the Railroad Bank have suspended. The Planters and Mechanics Bank will suspend to morrow. Several candidates to the disunion convention, over their signatures, repudiate any free state joining the southern confederacy.


Article from Cincinnati Daily Press, November 29, 1860

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Article Text

Southern Items. CHARLESTON, S. C., November 28.-The steamer Isabel, which left for Havana on Saturday, has returned, disabled. Several candidates for the Convention of South Carolina, over their signatures, repudiate any free State joining the Southern Confederacy. The State Bank of South Carolina, the Bank of South Carolina, and the Railroad Bank have suspended. The Planters' and Merchants' Bank will follow, to-morrow. BALTIMORE, MD., November 28.-Governor Hicks, of Maryland replies to a petition to convene a special session of the Legislature, declining such a course, saying he is unwilling to place Maryland in a position of appearing to join in any treasonable designs against the Union, while he is ready to go as far as any man in demanding the rights of the South in the Union.


Article from Chicago Daily Tribune, November 29, 1860

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Article Text

From South Carolina. CHARLESTON, Nov. 28.-The steamer Isabel, which left Saturday for Havana, has returned disabled. Several candidates for the Convention of South Carolina, over their signatures repudiate any free State joining the Southern Confederacy. The State Bank of South Carolina, the Bank of South Carolina and the Railroad Bank have suspended. The Planters' and Merchants' Banks will to-morrow.


Article from The National Republican, November 30, 1860

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Article Text

SOUTH CAROLINA BANKS. Charleston, Nov. 28.-The State Bank of South Carolina and the Railroad Bank have suspended. The Planters' and Mechanics' Banks will suspend to-morrow.


Article from The Evansville Daily Journal, December 1, 1860

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Article Text

CHARLESTON, Nov. 28th.-The steamer Isabel, which left Saturday for Havana, has returned disabled. Candidates for Convention repudiate any free State joining the Southern Confederacy. The State Bank of South Carolina, the Bank of South Carolina, and the Railroad Bank, have suspended. The Planters' and Merchants' Bank will suspend to-morrow.


Article from Nashville Union and American, December 1, 1860

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Article Text

From Charleston CHARLESTON, Nov. 28.-All South Carolina members of the Federal House of Representatives have determined to go to Washington and resign This course is taken in order to more conveniently confer with the Representatives of the other Southern States. Several candidates of the Convention of South Carolina, over their own signatures, repudiated any free State joning the Southern Confederacy. The State Bank of South Carolina, the Bank of South Corolina, and the Railroad Bank have suspended. The Planters and Merchants Bank will suspend to-morrow.


Article from Fayetteville Observer, December 6, 1860

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Article Text

Hense of Representatives have determined to go to Washington and resign. This course is taken in order to more conveniently confer with the Representatives of the other Southern States. Several candidates of the Convention of South Carolina, over their own signatures, repudiated any free State joining the Southern Confederney. The State Bank of South Carolina, the Bank of South Carolina, and the Railroad Bank have suspended. The Planters and Merchants Bank will suspend to-morrow. CHARLESTON, Nov. 29.-It is now considered certain here that the ordinance of secession will be passed on the 17th or 18th of December. Our representatives are leaving for Washington. Ordnance and ammunition have lately been landed from a schooner at Fort Moultrie. Some of the army officers say that now Fort Moultrie is almost impregnable. COLUMBIA, S. C., Nov. 30. - The House directed the Military Committee to consider the best method of fortifying the most exposed portions of the coast. MILLEDGEVILLE, Nov. 30.-The Legislature chose Breckinridge Electors. New ORLEANS, Dec. 1.-A committee of citizens of Texas petitioned Governor Houston to convene the Legislature. The Governor responded that viewing the proposed measures as unwise, he could not call the Legislature together, but if is majority of the citizens of the State petition for it, he could not stand in their way. The secession feeling largely predominates. MEMPHIS, Dec. 1. A large and excited assetabløge last night passed resolutions accepting the irrepressible conflict now upon us; calling on the Governor to convene the Legislature, calling a Convention of the State, and also of one of all the Southern States; and pledging Tennessee to stand by the action of a Southern Convention for weal or woe. CLINTON, Mo,, Dec. 1.-- Reports speak of inhabitants along the Missouri border fleeing, to escape from binds of Abolitionists, supposed to be connected with Montgomery, but indicating great alarm. Naw YORK, Dec. 1.- The Washing ton correspondent of the N. Y. Times says the secession feeling is moderate. A conservative compromise measure is being prepared to cover the entire sectional issue. Florida advices say that the Secrssion feeling largely predominates. Louisville,Ky., Dec. 1.--A report from Burksville says that fifteen negrees and one white man were bung for attempted insurrection on the part of the negroes, led on by the white man. No particulars are given.