Woodstock Bank - Woodstock, VT

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: May 16, 1837
Location: Woodstock, Vermont (43.624, -72.518)

Metadata

Model: gpt-5-mini
Short Digest: ab0e3f45

Response Measures

None

Description

Article (Rutland Herald, 1837-05-16) reports Woodstock Bank stopped payment along with many other banks following suspensions in New York and Boston. No mention of runs or permanent failure; likely a temporary suspension during the Panic of 1837, so classified as suspension_reopening (temporary suspension, reopening likely though not stated).

Events (1)

1. May 16, 1837 Suspension

Cause: Macro News
Cause Details: Suspension triggered by widespread stoppage of payment by major banks in New York and Boston and consequent regional banking panic.
Newspaper Excerpt: On the receipt of the news of the stopage of the Boston Banks, the Bank in this town, also followed suit.
Source: newspapers

Newspaper Articles (1)

1. May 16, 1837 Rutland Herald Rutland, VT

Article from Rutland Herald, May 16, 1837

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Article Text

POSTSCRIPT. BY LAST EVENING'S MAIL so (N. Y. Express of Saturday.) 07 The work of desolation and ruin is rapidly progressing. In addition to the stopage of the Banks in New York and Boston, we find by the Mail papers this morning, that all the Banks in Philadelphia, includ. ing the U.S. Bank, have suspended the redemption of their bills. We further learn that the Banks at N. Haven, Con. Brookline and Providence, have al. so stopped payment. B On the receipt of the news of the stopage of the Boston Banks, the Bank in this town, also followed suit. The Manchester, Bennington and rumor says, the Windsor and Woodstock banks, have come into this measure and we are sorry to say that we have no doubt but every bank in the Northern. Middle and Eastern States has or will have to adopt this course. What will be the ultimate end of all this derangement of the Fiscal concerns of the country no one can tell. Most of the banks are doubtless solvent and sound, and unless all their debtors fail. will continue 80 until the country can be relieved from the reckless blood-suckers who mis- govern it, and disorder and confusion can be restored. We conjecture that the bills of most of the banks will continue to circulate as usual, and the people may perhaps consent to take them as readily as hertofore, for there is no other currency now apparently ID existence, in this region. All the Jack son gold' and silver has been lugged off to the Western Wildes to speculate in lands, locked up in the vaults of the banks, or in the coffers of the miser, who dares not entrust it to go beyond his reach for fear it will get the Western fever! and fall into the hands of the Western pels. The bills of such banks as have been current here heretofore, we understand are receivable at the bank in this town now, except the Manchester, Bennington and St. Albans ; 86 also most of the New York Western Banks. d we understand that a meeting of the directors of all the Banks in this state is requested a Montpelier on Friday next.