Merchants Bank - Lynchburg, VA

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: November 23, 1860
Location: Lynchburg, Virginia (37.414, -79.142)

Metadata

Model: gpt-5-mini
Short Digest: fc4b69de

Response Measures

None

Description

Newspaper (1860-11-23) reports that all Lynchburg banks except Merchants had suspended specie payments and that Merchants' Bank will also suspend to-day. No mention of a depositor run or of permanent closure; such suspensions at the time were commonly temporary, so I classify as suspension_reopening. If later evidence shows permanent closure, episode_type should be updated.

Events (1)

1. November 23, 1860 Suspension

Cause: Local Banks
Cause Details: Other banks in Lynchburg had suspended specie payments the previous day; Merchants' Bank decided to suspend the following day.
Newspaper Excerpt: SUSPENDED.-All the Banks of Lynchburg, with the exception of the Merchats', yesterday determined upon a suspension of specie payments. ... We learn that the Merchants' Bank will also suspend to-day.
Source: newspapers

Newspaper Articles (1)

1. November 23, 1860 Richmond Daily Whig Richmond, VA

Article from Richmond Daily Whig, November 23, 1860

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Article Text

SUSPENDED.-All the Banks of Lynchburg, with the exception of the Merchats', yesterday determined upon a suspension of specie payments. This action meets with the approval of the entire community. We learn that the Merchants' Bank will also suspend to-day.-Republican.