20977. Bank of Paris (Paris, TN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 1, 1857*
Location
Paris, Tennessee (36.302, -88.327)

Metadata

Model
gpt-5-mini
Short Digest
f2f50fa4

Response Measures

None

Description

Contemporary reports (Aug–Oct 1857) state the Bank of Paris suspended payment a short time since but has resumed again and is now entirely safe. Later (Apr 1858) the Comptroller lists the Bank of Paris among free banks that have gone into liquidation. No article describes a depositor run; the suspension appears tied to the broad 1857 suspension of specie payments (panic of 1857). Thus the sequence is an initial suspension (then resumption) and later liquidation — classified as suspension_closure (no run reported).

Events (4)

1. August 1, 1857* Suspension
Cause
Macro News
Cause Details
Part of the widespread suspension of specie payments during the 1857 financial disturbance (universal suspension of specie payments mentioned in period press).
Newspaper Excerpt
This Bank suspended payment a short time since but has resumed again and is now entirely safe.
Source
newspapers
2. August 7, 1857 Other
Newspaper Excerpt
has resumed again and is now entirely safe. We believe no one sustained any loss from the suspension, her notes are secured by deposit of State Bonds and were received at par during the suspension ... and are now received by all the Banks.
Source
newspapers
3. October 29, 1857 Other
Newspaper Excerpt
Bank of Paris ... notes of the old Tennessee banks will be considered ... notes of other banks redeemable in these notes, and bankable, will pass at par. The following is a list ... Bank of Paris ... Notes on the foregoing Banks will be received ... at par ... until further notice.
Source
newspapers
4. April 22, 1858 Receivership
Newspaper Excerpt
The Comptroller of Tennessee announces that the following free Banks in that State have gone into liquidation, and that their circulation will be redeemed out of the trust funds in his hands, viz Bank of Paris, ... Bank of Trenton, and Bank of Tazewell.
Source
newspapers

Newspaper Articles (4)

Article from Weekly Clarksville Chronicle, August 7, 1857

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Article Text

BANK OF PARIS. This Bank suspended payment a short time since but has resumed again and is now entirely safe. We believe no one sustaned any loss from the suspension, her notes are secured by deposit of State Bonds and were received at par during the suspension by some of the Banks both at Nashville and this place and are now received by all the Banks.


Article from The Athens Post, September 4, 1857

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Article Text

THIRD DISTRICT.-The following is the vote for Congress in this District. Smith. Heiskell. 657 Blount, 1073 928 815 Monroe, 803 835 Roane, 999 864 McMinn, 1055 599 Bradley, 663 289 Polk, 362 243 Rhea, 531 100 Meigs, 375 456 Bledsoe, 890 959 Hamilton, 399 567 Marion, 7662 6800 Smith's majority, 862 Bank OF PARIS.-This bank suspended payment a short time since, but has resumed again, and is now entirely safe. We believe. says the Clarksville Chronicle, no one sustained any loss from the suspension. Its notes are secured by deposit of State Bonds, and were received nt par during the suspension by some of the Banks both at Nashville and this place and are now received by all Banks. -Memphis Eagle.


Article from Fayetteville Observer, October 29, 1857

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Article Text

# Bank Notes- Twenty years ago a member of the Massachusetts Legislature profanely observed, in a public speech:- "There is not a bank bill in this good commonwealth which, if it had a voice, could honestly exclaim-'I know that my redeemer liveth.'" Were we as unfastidious in our diction, we could with as much propriety, put the same words in the metaphorical mouth of every bank note in Tennessee--we might almost as well say the Union -at the present moment. There is, substantially, as in 1837, a universal suspension of specie payments. In this State, during the suspension, notes of the old Tennessee banks will be considered, we presume, as the standard, and all notes of other banks redeemable in these notes,and bankable, will pass at par. The following is a list of the banks, whose notes are taken on deposit and in payment of debts at the Bank of Tennessee: Bank of Chattanooga. Union Bank. Traders' Bank. Bank of America. Bank of Commerce. Bank of Memphis. Bank of Paris. Bank of the Union. Buck's Bank. Bank of Middle Tennessee. City Bank. Citizens' Bank. Plarters' Bank. Farmers' Bank. Merchants' Bank. Northern Bank. Southern Bank. Kentucky Banks. New Orleans Banks. Bank of Tennessee. Notes on the foregoing Banks will be received at the Observer office, at par, in payment of debts, or for new subscriptions, job-work, or advertising, until further notice. The notes of the following Banks are purchased by the Brokers of Nashville at from 60 to 80 cents on the dollar: Bank of Claiborne. " Tazewell. " Knoxville. " Trenton. " Shelbyville. " Lawrenceburg. " Ocoee. " Nashville. Seasonable Suggestion-


Article from Yorkville Enquirer, April 22, 1858

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Article Text

Scraps & facts. Calumny may be defined, a mixture of truth and falsehood blendid with malice. "What was the use of the eclipse?" asked a young lady. "Oh, it gave the sun time for reflection," replied a wag. - A wise man ought to hope for the best, be prepared for the worst, and bear with equanamity whatever may happen. - We sleep, but the loom of life never stops; and the pattern which was weaving when the sun went down is weaving when it comes up to-morrow. - A young widow who edits a paper in a neighboring State, says: We do not look so well to-day as usual, on account of the non-arrival of the mails." - The authorities of Tuscaloosa have determined, by a vote of four to three, not to license a bar for the retail of spirituous liquors in that city, as we learn from the Montgomery Advertiser. - The passenger train on the Central Railroad for Staunton, Virginia, ran through the Blue Ridge Tunnel, Monday, and hereafter the trains on the road will run through it regularly. The Baltimore Partriot mentions the fact that an insurance company in that city now takes risks on rents. Owners of property, therefore, in addition to the facilities of insurance against loss by fire and flood, can insure against a want of tenantry. - Impudent little boy (to very fat old gantleman, who is trying to get along as fast as he can but with very indifferent success :) " I say, old fellow, you would get on a jolly site quicker if you would lie down on the pavement and let me roll you along." - At a public sale of books the auctioneer put up " Drews Essay on Souls," which was knocked down to'a shoemaker, who othe great amusement of the crowded room asked the auctioneer if " he had any more works on shoemaking to sell ?" - An attorney before a bench of magistrates, a short time ago, told the bench, with great gravity. " That he had two witnesses in court in behalfof his client, and they would be sure to speak the truth, for he had no opportunity to communicate with them !" - The Chattanooga Advertiser of the 15th inst., says: "We learn by an endorsement on the Little Rock, Arkansas, letter package, received here yesterday morning, that the town of Napoleon is fifteen feet under water. - An Irishman being asked, on a late trial, for a certificate of his marriage, bared his head, and exhibited a huge scar, which looked as though it might have been made with a fire shovel. The evidence was satisfactory. - Many men want wealth-not a competence alone, but a fire-story competence.Everything subserves this and religion they would want as a sort of lightning rod to their houses, to ward off, by and by, the bolts of divine wrath. - The people of St. Paul Minnesota, have recently voted to raise a loan of $100,000 to complete the bridge now in course of construction across the Mississippi at that place. The estimated cost is $140,000 and the structure is to be completed during the coming summer. - A young man was lately arrested in Pennsylvania for stealing a horse, and confessed the crime, stating that he knew of no other way to get rid of a woman who was constantly importuning him to marry her.Between a wife and a prison he chose, as he believed, the lesser of two evils. - The Comptroller of Tennessee announces that the following free Banks in that State have gone into liquidation, and that their circulation will be redeemed out of the trust funds in his hands, viz Bank of Paris, Bank of Commerce, Bank of Jefferson, Bank of Trenton, and Bank of Tazewell. - An old, rough elergyman once took for his text that passage of the Psalms, I said in my haste all men are liars. Looking up, apparently as if he saw the Psalmist immediately before him, he said-' You said in your baste, David, did you! Well, if you had been here, you might have said it after mature reflection.' - The Richmond, Va. South says that a negro child has recently been born in the neighborhood of Ring-gold in that county, with twenty-six fingers and toes. It has six toes on each foot, and seven fingers on each hand. There are two full sized thumbs on each hand and two 'little,' fingers. All these limbs are said to be perfect. A lady residing in the vicinity of New York, the wife of a distinguished citizen and well know in the fashionable world, has testified her interestin the revival movement by converting the elegant billiard room attached to her house, into a place for prayer meetings, in which her neighbors participate daily. Many of the Washington correspondents agree in saying that the President will veto any bill which may be passed admitting Kansas, that does not substantially recognise the Lecompton Constitution. Such declarations, if true, will tend to strengthen the Anti Lecompton party, for they will construe it into a design to interfere with their freedom. - Col. Benton's will, it is stated, places his estate in the hands of Mr. Jones, Mr. Jacob and Col. Fremont, (sons-in-law,) Mr. Montgomery Blair and Capt. Lee, as trusttees. The house in Washington, where he passed the portion of his life, is bequeathed to Mrs. Jones, his library to her husband. The remainder of the estate is equally divided. Brigham Young threatens, if the Pre-