19976. Union Bank (Charleston, SC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 12, 1858
Location
Charleston, South Carolina (32.777, -79.931)

Metadata

Model
gpt-5-mini
Short Digest
78278e1a

Response Measures

None

Description

Multiple Comptroller General circulars (dated Jan 12, 1858) list the Union Bank of Charleston among 'Suspended Banks'. Article 1 (Oct 1857) references the broader money panic that forced many banks to suspend specie payments, suggesting the suspension was caused by the 1857 monetary panic (macro-level shock). The articles provided show the bank was suspended as of Jan 12, 1858; no reopening or receivership information is present in the supplied texts, so I classify this as suspension_closure (no evidence of reopening).

Events (1)

1. January 12, 1858 Suspension
Cause
Macro News
Cause Details
Bank listed among 'suspended banks' following the 1857 money panic and widespread suspension of specie payments in Charleston; suspension appears driven by the broader monetary panic rather than a bank-specific scandal or a government takeover.
Newspaper Excerpt
the bills of the following Banks will only be received in payment for Taxes due the State, viz: ... The Union Bank of Charleston. (Office Comptroller General circular, Jan 12, 1858)
Source
newspapers

Newspaper Articles (9)

Article from Keowee Courier, October 24, 1857

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THE KEOWEE COURIER. The Money Panic. THE HERMITAGE.-Gov. Johnson, of TenPennings and Clippings. The condition of monetary affairs are no nessee, reports the purchase for the State of NEW ADVERTISEMENTS-There are a numbetter. The pressure, in fact, has become the Hermitage, and its tender to the Federal ber of new advertisements in our columns general, and many of our own banks have Government. In case the tender is not acIt is this week, to which the attention of the pubbeen forced to suspend specie payment. The cepted, the Governor recommends that the I am f lic is directed. Bank of Charleston, Union Bank, and the property be retained as a residence for the catego State Bank, in Charleston, and the CommerCorron.-This staple is only now bringing future Governors of the State. theref 12 cents por pound in Charleston. But a few cial Bank, in Columbia, the Bank of Chester, GETTING FRIGHTENED.-Gov. Fletcher, of torial = and the Bank of Newberry, continue to reweeks since it reached as high as 16 cents! Vermont, in his recent message to the Legisladeem their bills in gold and silver. The bills THERE'S AN EXAMPLE FOR You.-A numprogre ture expressed the fear that slavery would be of the suspended banks, however, continue ous, al ber of young ladies in Salem, Mass., having introduced into that State. The Boston Post to be taken as heretofore, and are thought to considered the state of the money market and somet] says that the Green Mountains which make be perfectly good. determined not to pay ten or twenty dollars stand up that State, are in winter white as snow, The extravagant speculation of the people, for a winter bonnet, have set about making that p but Gov. Fletcher is an evergreen. bonnets for themselves. suporinduced by the extraordinary expansion are co of our bank currency, has been the prime CHICAGO, Oct. 12 -A destructive fire broke NUMBER OF BANKS IN THE UNITED STATES. velope cause of the pressure, and inflated the price out yesterday morning in State street, desThe number of Banks in the Union, on Janmake of almost everything to an extent perfectly troying the entire block between Monroe and uary 1, 1857, was 1,255, with 143 branches. banner alarming. Revulsions, sometimes periodical, Adams streets. The buildings were mostly Their capital was $443,874,272; loans and are the fruits of such folly, and, disguise it those frame. The loss by the fire is estimated at discounts, $634,783,280; specie, $59,314,063; as we may, we are now in the midst of one, $125,000. there = circulation, $195,747,950; deposits, $212,705, founde whose pent up fury had best be reckoned by THE LAST OF Ir.-We have to announce an662. The amount of capital employed by distric the death-like inactivity and apathy that now other incident in the Burdell murder case, private banking establishments, without char of the prevail in business circles. which has furnished New York with an exters, was estimated at $118,086,000 man, I The recent monthly statement of the banks oitement that endured unprecedentedly long. worke to the Comptroller General is suggestive of THE LIFE OF NATIONS.-The natural life of Mrs. Canningham, who has been undergoing old ma future difficulty and trouble. The circulanations, as well as of individuals, has its fixtrial, failed to appear at Court on Tuesday, things tion of bills of all the banks of the State is ed course and term. It springs forth, grows and her counsel says he has no knowiedge of men., $7,105,170, and the specie in their vaults, for up, reaches its maturity, decays, perishes. her whereabouts. sician, the redemption of these bills, is set down at have a Con. PRESTON.-The friends of Col. Preston HORRIBLE TRAGEDY IN ARKANSAS.-The $999,3991 The times are pregnant with evils a WA will press his claims for the post of U.S. SenBastrop (Texas) Advertiser of the 23d ult. of almost every character, but none can effect should ator before the Legislature this winter. says that on the 14th, Mrs. IIill, a widow, rethe country SO seriously as the present alarmflag h siding near Berlin, Arkansas, and a negro ing condition of monetary affairs. it a lit BOSTON, Oct. 10.-A stranger stopping at


Article from Yorkville Enquirer, January 14, 1858

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Circular. OFFICE COMPTROLLER GENERAL, Columbia, January 12, 1858. To the several Tax Collectors of the several Districts and Parishes of the State of South Carolina: According to the provisions of the laws of this State, in such case made and provided, the Bills of Suspended Banks are not "receivable by the Treasurers, Tax Collectors and other public officors in payment for taxes and other moneys due to the State." You will therefore give at least thirty days notice through the public journal of your District, or otherwise, to the Tax Payers of your District or Parish, that the bills of the following Banks will only be received in payment of Taxes due the State, viz: The Commercial Bank of Columbia. The Bank of Charleston. The Union Bank of Charleston. The State Bank of Charleston. The Bank of Georgetown. The Merchants' Bank of Cheraw. The Bank of Camden. The Bank of Chester. You will also receive the Taxes, or any other dues to the State, in the Bills of the Bank of the State of South Carolina. Should any Tax Collector in the State refuse to obey the foregoing instructions, or present at the Treasury any Bills on other Banks than those above named, he will be dealt with according to law. J. D. ASHMORE, Comptroller General.


Article from The Abbeville Banner, January 21, 1858

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Circular. OFFICE COMPTROLLER GENERAL, ? COLUMBIA, January 12, 1858. 1 the several Tax Collectors of the several I'⁰ Districts and Parishes of the State of South Carolina. According to the provisions of the laws of this State, in such case made and provided, the Bitls, of Suspended Banks are not "receivable by the Treasurers, Tax Collectors and other public officen in payment for taxes and other moneys due to the State." You will therefore give at least thiny days notice through the public journal of your District, or otherwise, to the Tax Payers of your District or Parish, that the bills of the fullowng Banks will only be received in payment of Taxes due the State, viz: The Commercial Bank of Columbia. The Bank of Charleston. The Union Bank of Charleston. The State Bank of Charleston. Tie Bank of Georgetown. "Tle Merchants' Bank of Cheraw. "Tle Bank of Camden. The Bank of Chester. You will also receive the Taxes. or any other ues to the State, in the Bills of the Bank of the tate of South Carolina. Should any Tax Collecr in the State refuse to obev the foregoing inructions, or present at the Treasury any Bills other Banks than those above named, he will dealt with according to law. J.D. ASHMORE, Comptroller General 38 4t 2, 1858.


Article from The Lancaster Ledger, January 27, 1858

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Circular. OFFICE COMPTROLLER GENERAL COLUMBIA, January 12, 1858. T the several Tax Collectors of the sev. Dictricts and Parishes of the State of South Carolina. According to the provisions of the laws of this State, in such case made and provided, the Bills of Suspended Banks are not "receivable by the Treasurers, Tax Collectors and other public officers in payment for taxes and other moneys due to the State." You will therefore give at least thirty days notice through the public journal of your District or Parish. that the bills of the following Banks will only be received in payment for Taxes due the State, viz : The Commercial Bank of Columbia. The Bank of Charleston. The Union Bank of Charleston. The State Bank of Charleston. The Bank of Georgetown. The Merchants' Bank of Cheraw. The Bank of Camden. The Bank of Chester. You will also receive the Taxes, or any other dyes to the State, in the Bills of the Bank of the State of South Carolina Should any Tax Collector in the State refuse to obey the foregoing instructions, or present at the Treasury any Bills on other Banks than those above named, he will be dealt with according to law. J. D. ASHMORE. Comptroller General. January 12, 1858. 50-4t.


Article from The Abbeville Banner, January 28, 1858

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Circular. OFFICE COMPTROLLER GENERAL, 1 COLUMBIA, January 12, 1858. $ the several Tax Collectors of the several T° Districts and Parishes of the State of South Carolina. According to the provisions of the laws of this State, in such case made and provided, the Bills, of Suspended Banks are not "receivable by the Treasurers, Tax Collectors and other public offieers in payment for taxes and other moneys due to the State." You will therefore give at least thirty days notice through the public journal of your District, or otherwise, to the Tax Payers of your District or Parish, that the bills of the following Banks will only be received in payment of Taxes due the State, viz: The Commercial Bank of Columbia. The Bank of Charleston. The Union Bank of Charleston. The State Bank of Charleston. The Bank of Georgetown. The Merchants' Bank of Cheraw. The Bank of Camden. The Bank of Chester. You will also receive the Taxes. or any other dues to the State, in the Bills of the Bank of the State of South Carolina. Should any Tax Collector in the State refuse to obey the foregoing instructions, or present at the Treasury any Bills on other Banks than those above named, he will be dealt with according to law. J. D. ASHMORE, Comptroller General. Jap. 12, 1858. 38 4t,


Article from The Lancaster Ledger, February 3, 1858

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Circular. OFFICE COMPTROLLER GENERAL, COLUMBIA, January 12, 1858. T eral several Tax Collectors of the seve Dictricts and Parishes of the State of South Caroli a. According to the provisions of the laws of this State, in such case made and provided. the Bills of Suspended Banks are not "receivable by the Treasurers, Tax Collec. tors and other public officers in payment for taxes and other moneys due to the State." You will therefore give at least thirty days notice through the public journal of your District or Parish. that the bills of the following Banks will only be received in payment for Taxes due the State, viz : The Commercial Bank of Columbia. The Bank of Charleston. The Union Bank of Charleston. The State Bank of Charleston. The Back of Georgetown. The Merchants' Bank of Cheraw. The Bar k of Camden. The Bank of Chester. You will 51so receive the Taxes, or any other dues to the State, in the Bills of the Bank of the State of South CarolinaShould any Tax Collector in the State refuse to obey the foregoing instructions, or present at the Treasury any Bills on other Banks than those above named, he will be dealt with according to law. J. D. ASHMORE. Comptroller General. 50-4t. January 12, 1858.


Article from The Abbeville Banner, February 4, 1858

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Circular. OFFICE COMPTROLLER GENERAL, , COLUMBIA, January 12, 1858. i T the several Tax Collectors of the several Districts and Parishes of the State of South Carolina. According to the provisions of the laws of this State, in such case made and provided. the Bills, of Suspended Banks are not "receivable by the Treasurers, Tax Collectors and other public officers in payment for taxes and other moneys due to the State." You will therefore give at least thirty days notice through the public journal of your District, or otherwise, to the Tax Payers of your District or Parish, that the bills of the following Banks will only be received in payment of Taxes due the State, viz: The Commercial Bank of Columbia. The Bank of Charleston. The Union Bank of Charleston. The Staffe Bank of Charleston. The Bank of Georgetown. The Merchants' Bank of Cheraw. The Bank of Camden. The Bank of Chester. You will also receive the Taxes, or any other dues to the State, in the Bills of the Bank of the State of South Carolina. Should any Tax Collector in the State refuse to obey the foregoing instructions. OF present at the Treasury any Bills on other Banks than those above named, he will be dealt with according to law. J. D. ASHMORE, Comptroller General. 38 Jan. 12, 1858. 4t


Article from The Lancaster Ledger, February 10, 1858

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Circular. OFFICE COMPTROLLER GENERAL COLUMBIA, January 12, 1858. T the several Tax Collectors of the seve Dictricts and Parishes of the State of South Carolina. According to the provisions of the laws of this State, in such case made and provided. the Bills of Suspended Banks are not "receivable by the Treasurers, Tax Collec tors and other public officers in payment for taxes and other moneys due to the State." You will therefore give at least thirty davs notice through the public journal of your District or Parish. that the bills of the following Banks will only be received in pay. ment for Taxes due the State, viz: The Commercial Bank of Columbia. The Bank of Charleston. The Union Bank of Charleston. The State Bank of Charleston. The Bank of Georgetown. The Merchants' Bank of Cheraw. The Ba: k of Camden. The Bank of Chestsr. You will also receive the Taxes, or anv other dues to the State, in the Bills of the Bank of the State of South CarolinaShould any Tax Collector in the State refuse to obey the foregoing instructions, or present at the Treasury any Bills on other Banks than those above named, he will be dealt with according to law. J. D. ASHMORE. Comptraller General. January 12. 1858. 50-4t.


Article from The Abbeville Banner, February 11, 1858

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Circular. OFFICE COMPTROLLER GENERAL, 1 COLUMBIA, January 12, 1858. the several Tax Collectors of the several T° Districts and Parishes of the State of South Carolina. According to the provisions of the laws of this State, in such case made and provided, the Bills, of Suspended Banks are not "receivable by the Treasurers, Tax Collectors and other public officers in payment for taxes and other moneys due to the State." You will therefore give at least thirty days notice through the public journal of your District, or otherwise, to the Tax Payers of your District or Purish, that the bills of the fullowing Banks will only be received in payment of Taxes due the State, viz: The Commercial Bank of Columbia. The Bank of Charleston. The Union Bank of Charleston. The State Bank of Charleston. The Bank of Georgetown. The Merchants' Bank of Cheraw. The Bank of Camden, The Bank of Chester. You will also receive the Taxes. or any other dues to the State, in the Bills of the Bank of the State of South Carolina. Should any Tax Collector in the State refuse to obey the foregoing instructions, or present at the Treasury any Bills on other Banks than those above named, he will be dealt with according to law, J. D. ASHMORE, Comptroller General. Jan. 12, 1858. 38 4t