Freedmen's Bank - Washington, DC

Bank Information

Episode Type: Suspension → Closure
Bank Type: private
Start Date: March 8, 1882
Location: Washington, District of Columbia (38.895, -77.036)

Metadata

Model: gpt-5-mini
Short Digest: 8b8dbe7d

Response Measures

None

Description

The article (Russellville Democrat, 1882-03-16) reports that the House passed a bill authorizing the purchase of the Freedmen's Bank at Washington and appropriating $250,000. The piece describes government action to acquire the bank; no bank run is mentioned. Classified as a government-action suspension leading to closure/transfer.

Events (1)

1. March 8, 1882 Suspension

Cause: Government Action
Cause Details: Congress passed a bill authorizing the purchase of the Freedmen's Bank and appropriating $250,000 to acquire it (government intervention/acquisition).
Newspaper Excerpt: The bill authorizing the purchase of the Freedmen's Bank at Washington, and appropriating $250,000 there for, passed
Source: newspapers

Newspaper Articles (1)

1. March 16, 1882 The Russellville Democrat Russellville, AR

Article from The Russellville Democrat, March 16, 1882

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Article Text

House. MARCH 1.-The bill making Denver a port of delivery passed A resolution dismissing the contested election case of Lander VS. King, Fifth district of Lousiana, was adopted A number of a bills were reported The house went into committee of the whole on the Indian appropriation bill. The total amount of the appropriation recommended is $4,920,203, an increase over last year of $351,600, and a decrease of $921,000 from estimates. In iieu of appropriations for interpreters in detail as heretofore they are provided for in gross at $20,000, the secretary of the interior being authorized to employ and distribute them in his discretion and at salaries not exceeding $400 per annum. The number of agents is reduced from 67 to 60. The expenses of the commission of citizens serving without pay are specified in detail, The ommittee rose and the bill passed. MARCH 2.-The contested election case of Mc. Dowell vs. George, of Oregon, was dismissed A letter from the director of the mint stated, from March, 1878, to December, 1881, the average monthly cost of silver bullion purchased by the treasury was $2,057,805, and the average amount of coinage $2,290,891 The House went into committee of the whole on the consular and diplomatic appropriation bill. which appropriates $1,198,530, being $12,000 less than last year and $115,000 less than the estimate Debate lasted until the hour of adjournment without definite action. MARCH 3.-Mr. Gibson introduced a bill making appropriations of $6,118,000 for construction, repair, completion and preservation of certain works on the Mis-issippi river in accordance with the recommendation. plans, etc., of the Mississippi Commission The bill passed reducing the license fees of masters, chief engineers and firstclass pilots of steam vessels from $10 to $1 50, and chief mates, engineers and pilots of an inferior grade from $5 to 75 cents The House went into committee of the whole on the private calendar, and some personal bills were passed. MARCH 4.-The conference report of Mr. His cock on the immediate deficiency bill was agreed to The Sixth Louisiana District contested election case was dismissed The House went into committee of the whole on the diplomatic appropriation bill, in the discussion of which the balance of the session was consumed. Finally the bill was reported to the House, and previous question ordered upon it A protest was presented fromnumerous bondholders of Yankton against the admission of Dakota as a State. MARCH .-The diplomatic appropriation bill was passed : also, the bill appropriating $100,000 to continue work on Davis Island down on the Ohio river Bills were introduced: To abolish discriminating duties and to enlarge the free list. It places the following articles on the free list : Cassia. cassia vera, cassia buds, cinnamon, cloves, stems, mace, nutmeg; pepper, unground. white or black: oil of bay leaves, oil of olives, oil of cubebs, nitro benzole, or oil of mirbau, gum assafoetida, chloride of polassium, crude, and nitrate of potassa, crude: to restore to the pension roll the names of persons dropped by reason of partiDibbrell, cipating or aiding the rebellion Mr. 01 Tennessee, moved to suspend the rules and pass the bill repealing so much of clause six of section 3,244 of the revised statutes relating to the sale of leaf tobacco as imposes a fine or penalty on farmers and producers of leat tobacco who may sell the same to consumers, and providing that hereafter all farmers or other producers of leaf tobacco shall be allowed to sell their or their tenants' production without license or penalty. Discussion of the motion closed the session. MARCH 8.-Mr. Harris reported a bill authorizing the construction of vessels of war for the navy of the United States The bill authorizing the purchase of the Freedmen's Bank at Wash ington, and appropriating $250,000 there for, passed: also the bill directing the Secretary of War to pay OVer to the Secretary of the Army of the Cumberland $7,500, to aid in the erection of a statue or monument to the memory of James A. Garfield The anti-polygamy bill came up, and during the discussion House adjourned.