First National Bank - Madison, WI

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 144
Charter Number: 144
Start Date: April 20, 1878
Location: Madison, Wisconsin (43.073, -89.401)

Metadata

Model: gpt-5-mini
Short Digest: 93c619ca

Response Measures

Accommodated withdrawals

Description

Articles (dated 1878-04-20) report the First National Bank of Madison resumed gold payments. Early in the day there was some excitement and disposition to run on the bank, but the bank met demands promptly and the agitation subsided. No suspension or closure is mentioned.

Events (1)

1. April 20, 1878 Run

Cause: Macro News
Cause Details: Resumption of gold payments statewide (specie resumption) prompted depositor excitement and a brief disposition to run.
Measures: Bank met demands promptly and resumed gold payments to depositors.
Newspaper Excerpt: Early in the day there was some excitement and disposition to run on the bank, but meeting its demands promptly the excitement subsided and the demand sensibly dropped off.
Source: newspapers

Newspaper Articles (2)

1. April 21, 1878 The New York Herald New York, NY

Article from The New York Herald, April 21, 1878

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Article Text

GOLD PAYMENTS IN WISCONSIN. [BY TELEGRAPH TO THE HERALD. 1 MADISON, April 20, 1878. The Wisconsin State Treasurer, the First National Bank of Mudison and the Wisconsin State Journal resumed gold payments to-day. The Journal paid its editors and employés their week's salary in the precious metal, to the amount ol nearly $1,000. Early in the day there was some excitement and disposition to run on the bank, but meeting its demands promptly the excitement subsided and the demand sensibly dropped off. GREENBACKS PREFERRED. At Stoughton viliage a grain dealer obtained a quantity of gold from Chicago and attempted to resume gold payment, but being a strong greenback neighborhood most farmers refused to touch it and demanded greenbacks. R. G. THWAITES, Editor State Journal.

2. May 11, 1878 Puget Sound Dispatch Seattle, WA

Article from Puget Sound Dispatch, May 11, 1878

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Article Text

Resumption. MADISON, April 20.-The Wısconsin State Treasurer, the First National Bank of Madison and the State Journal resumed gold payments to-day. The Journal paid its editors and employes their week's salary in the precious metal, to the amount of nearly $1,000. Early in the day there was some excitement and disposition to run on the bank, but meeting its demands promptly the excitement subsided and the demand sensibly dropped off. At Stoughton village a grain dealer obtained a quantity of gold from Chicago and attempted to resume gold payment, but being a strong greenback neighborhood most farmers refused to touch it and demanded greenbacks. R. G. THWAITES, Editor State Journal.