Nashville Bank - Nashville, TN

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: February 12, 1821
Location: Nashville, Tennessee (36.166, -86.784)

Metadata

Model: gpt-5-mini
Short Digest: eae007c1

Response Measures

None

Description

The Treasury Department list (Feb 12, 1821) includes the Nashville Bank among banks that had 'suspended specie payments' during the general suspension following the post-war financial distress. The article reports a systemic suspension of specie payments rather than a depositor run or a permanent failure; no reopening or receivership is reported in the clipping, but the context (general suspension) makes a later resumption likely, so I classify as suspension_reopening. No evidence of a run or permanent closure in the provided text.

Events (1)

1. February 12, 1821 Suspension

Cause: Macro News
Cause Details: Part of the general suspension of specie payments following the post-war financial distress (listed by the Treasury as banks which suspended specie payments).
Newspaper Excerpt: The whole amount is due by banks which have suspended specie payments.... (A) Nashville bank 88 729 00
Source: newspapers

Newspaper Articles (1)

1. February 27, 1821 Richmond Enquirer Richmond, VA

Article from Richmond Enquirer, February 27, 1821

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Article Text

Leicarced gentleman had certainly endeavoured to create an impression that Mr. Wright's connection with him commenced when he was writing against Paine's religicus works, and ceased when, as the learned gentleman thought fit to state, he became auadvocate for itteligions and republican principles. Now, if there was any man who had the patience to read every thing be (Mr. C) had written, he would dety him to find a single passage in which the irreligious, or even the republican writings of Paine were commended. He had never approved of those writings; on the contrary, he thought they were caloniated to make considerable deduction from the merits of his other writings. Of his writings ou political economy he highly approved; and he thought, that in point of acuteness, profundity, and simplicity of illustration, he surpassed every man who had ever written on that subject. It was not, however, This approbation of those writings which induced him to take up the bones and bring them to England. The memory of Pame had been insulted by the Republic of America, aud though no man had done more to promote the independence of that country, the Americans refused to bury his remains in any place where human beings were interred; and a short time before his death, au American, who had shot at Mr. Paine, while sitting at his wipdow, publicly beasted of the attempt to assassinate him, and was suffered to escape without a hair of his head being touched, and without the reprobation of any of his countrymen. He (Mr. Cobbett) telt, as an Englishman ought to teel, the ingratitude with which his conotryman had been treated by the Americans, and he was anxions therefore to bring home strong proof, some outward and visible sigu, thut a republican form of government was not that which was calentated to engender and keep alive the public spirit and public virtue." # HOUSE OF REPRESENTATIVES. The Speaker laid before the House the fol-Powjug letter from the Secretary of the Treasury. National Deposites in non specie paying Banks. [OFFICIAL] TREASURY DEPARTMENT, Feb 12, 1821 SIR, In obedience to a resolation of the House of Representatives, of the 16th of January last, directing the Secretary of the Treasury to lay before the House of Repre-sentatives- A statement of the precise amount of special deposites to the credit of the Treasury of the United States which is referred to in his supplementary report of the 28th ult. as not being available the current year, stating par-ticularly of what snea deposites consist, if depreciated Bank paper, the bank or banks which issued the same, with the amount by each, and the present current specie value thereof; and the year or years respectively when the same was received." I have the honor to submit the annexed statement, which contains the detailed intor-mation required The whole amount is due by banks which have suspended specie payments. The several sum designated in that statement, with the excер-tion of those marked A, and part of that part marked B, were received during the generai suspension of specie peyments, and the latter principally in the years 1818 and 1819. In most cases, the notes received during the general suspension of specie payments have been deposited in the banks by which they were issued, and certificates taken, in which the payment of interest has generally been stipulated; and where it was practicable, collateral security has been obtained. The anins marked A, and part of those marked B, corsisted, at the time of deposite, of specie, aud of the notes of specie paying banks. Since the deposites were made, the banks have suspended specie payments. In-formation of the suspension of specie pay-meuts by the bank of Vincennes, has been received since the date of the Treasury Re-port, referred to in the resolution. This oc-currence has angmented the amount of spe-cial deposite by the sum of $214 808 56. I have no means of determining the current value of special deposite. From the report of the agent employed in 1810 to call tipon the several banks for payment, there is rea-son to believe that the greatest portion of it will be converted into current money in the Course of three or four years.... It is not im-probable that the sums deposited in Hunts-ville, and in the bank of Kentucky, will be discharged in current money, in the course of the present aus ensuing years. I remain, &c. WM. H. CRAWFORD. To the Hon. Speaker of the House of Representatives. A statement of the "special deposite" standing to the credit of the Treasury of the United States Elkton Bauk of Maryland, $19,865 25 Alexandria Society, Granville 2,463 00 Owl Creek Bauk 64 00 Western Bank of Va. Parkersburg 198 00 German Bank of Wooster, 35 105 00 Farmers Bank of New Salem Farmers' and Mechanics' Bank of Greencastle 1,835 00 Commercial Bank of Lake Erie 95 00 Virginia Saline Bauk 10,900 00 Bank of Somerset and Woaster 10,121 00 Merchants Bank of Alexandria 1.375 00 Juniata Bank of Pennsylvania 3.217 00 Huntingdon Bauk of Pennsylvana 3,200 00 Bank of Muskingum 2.380 00 Lebanon Miami banking company 30,032 00 Bank of Washington, Pennsylvania 9575 00 Cumberland bank of Allegtuany 7.508 34 Warrington Company 1,176 61 Farmers' and Mechanics' bank of Pittsburg 25 00 Urbana Banking Company 1311 00 Bedford Bank, Pennsylvania 2.839 00 Farmers Bank of Canton 4,059 57 Union Bank of Pennsylvania 23,600 00 Bank of Zanesville 9758 00 Farmers Mechanics' and Manufac-turers Bank of Chilicothe 8,221 00 Bank of St. Louis 23,905 00 Kentucky Insurance Company 87 00 Monongalia, Union, and Columbia Bank 1,360 00 Baok of Cincinnati 500 Leesburg, Union Company 3,846 00 Susquehanna Bridge and Banking Company 58 00 Miami Exporting Company 796 00 Farmers and Mechanics bank of Lex.ington 8,791 00 Somerset bank 500 (A) Bauk of Vincennes 69,077 87 (A) Planter's and Merchant's Bank Hautsville 214,808 56 (B) Farmers' and Mechanics' bank of Ciucinuati 138,800 25 (A) Banks of Kentucky & branches 67,549 00 (A) Nashville bank 88 729 00 (A) Centre bank of Pennsylvania 1703 71 7,779 18 $818 590 47 Counterfeite not inelnded amontut to $152. Treasury Department, Feb. 12, 1821. Ordered to lie on the table and to be prin-ted.