Merchants Bank - Washington, DC

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: October 11, 1852
Location: Washington, District of Columbia (38.895, -77.036)

Metadata

Model: gpt-5-mini
Short Digest: 58bab4da

Response Measures

None

Description

Article (dated Oct 11, 1852) reports a broad run in Washington on many banks including 'Merchants'' driven by public reaction against 'bogus' and irresponsible note issuance. No suspensions, reopenings, or receiverships of Merchants Bank are mentioned.

Events (1)

1. October 11, 1852 Run

Cause: Bank Specific Adverse Info
Cause Details: Public reaction against 'bogus' banks and irresponsible issuance/circulation of notes in Washington, prompting withdrawals from multiple banks including Merchants Bank.
Newspaper Excerpt: There is a great run on the bogus banks in Washington... The run is being made on the Central, Citizens', Empire, Fulton, Mechanics', Merchants', Exchange, Merchants and Mechanics', Metropolitan, Ocean and Railroad Banks
Source: newspapers

Newspaper Articles (1)

1. October 23, 1852 Monongalia Mirror Morgantown, WV

Article from Monongalia Mirror, October 23, 1852

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Article Text

Washington, Oct. 11. Charles H. Christmas has been apReuben M. Richardson, Receiver at the Land Office at Minnessota. There is a great run on the bogus banks in Washington. The Bank of the Union had a large circulation in the District. There are various unknown banks without banking-houses circulaling notes dated at Washington, The run is being made on the Central, Citizens', Empire, Fulton, Mechanics', Merchants', Exchange, Merchants and Mechanics', Metropolitan, Ocean and Railroad Banks, and about a dozen others having offices here. There is a disposition here on the part of the public to set their faces against irresponsible issues of bank notes. Episcopal Missions.-The receipts of the Board of Domestic Missions since June, 1851, were $23,566, and for Foreign Missions $41,048; in all $64,614. The Committee have very nearly doubled the number of their missionaries within the year just closed. The missions to China and the west coast of Africa will both receive further enlargement this fall, and there are arrangements for occupying new openings for missionary work. German Baptist Missions.-In 1835 the Baptist mission at Hamburg was commenced, when six persons were received into the church. There are now in connection with this mission 292 preaching places, in 40 different cities and towns; 683 persons have been baptized, and 3,881 are at present connected with the churches. Trade upon the Gulf.-It is calculated that the amount of ocean commerce of the American ports on the Gulf of Mexico, inward and outward, foreign and domestic, exceeds $250,000,000 per annum, besides that of the Mexican and other ports of the gulf. Duke of Wellington's Successor.The new Commander-in-chief, successor to the Duke of Wellington, has bren nominated, Lord Hardinge being the party selected. His age is 67. He was already a lieutenant-general. and enjoys a pension for wounds at Waterloo, and also a pension of $25,000 a year for the battlesof the Sutlej,where h commanded when he was Governor-General of India. Many years ago he was Secretary at War (as Sir Henry Hardinge,) and subsequently he was chief secretary for Ireland. Within twenty years three millions and a half of copies of the Bible, and fifteen millions of religious tracts, have been distributed in France.