Union Bank - Charleston, SC

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: December 2, 1860
Location: Charleston, South Carolina (32.777, -79.931)

Metadata

Model: gpt-5-mini
Short Digest: 31ab6ad0

Response Measures

None

Description

Article (Dec 3, 1860) reports that all Charleston banks suspended payments as a deliberate policy measure, not of necessity, and prints Union Bank's statement showing soundness. No run is mentioned; suspension appears temporary (policy), so classified as suspension_reopening.

Events (1)

1. December 2, 1860 Suspension

Cause Details: Collective, voluntary suspension by Charleston banks as a policy measure (not due to insolvency or government closure).
Newspaper Excerpt: The suspension of all our banks yesterday- a measure of mere policy, and not of necessity-
Source: newspapers

Newspaper Articles (1)

1. December 3, 1860 The Daily Exchange Baltimore, MD

Article from The Daily Exchange, December 3, 1860

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Article Text

: The Charleston Mercury of Friday says The suspension of all our banks yesterday- a measure of mere policy, and not of necessity-was the theme of general congratulation among our business community. Asan instance of the perfect soundness of our Charleston Banks, we append the statement of one of them--the Union Bank-at the close of yesterday's operations: Exchange-Sterling $19,430.35 362,342.13 Exchange-Northern (due within 30 days) 233,966.96 Exchange-Southern (due within 30 days) Coin 181,774.25 Balance due by City Banks 42,512.70 Circulation 197,635 00 Deposits 180,850.42 The Cincinnati Cazette of Saturday savs