Article Text
AUGUSTA, GA., Oct. 14.-The Union Bank, Bank of Hamburg. and Manufacturers' Bank, of Macon, suspended this morning. Savannah, Oct. 14.-A public meeting of the citizens, held here to-day, recommended all the banks to suspend.
2948. Manufacturers Bank (Macon, GA)
Bank Information
- Episode Type
- Suspension → Reopening
- Bank Type
- state
- Start Date
- October 14, 1857
- Location
- Macon, Georgia (32.841, -83.632)
Metadata
- Model
- gpt-5-mini
- Short Digest
71cfa0e7
Response Measures
None
Description
Multiple contemporary newspapers report that the Manufacturers' Bank of Macon suspended specie payments on Oct. 14, 1857 as part of widespread suspensions during the Panic of 1857. No article mentions a depositor run, receivership, or permanent closure; given the national crisis context and lack of evidence of permanent failure in these items, I classify this as a suspension (systemic panic) with likely later resumption, though reopening is not explicitly documented in these clippings.
Events (1)
1.
October 14, 1857
Suspension
- Cause
- Macro News
- Cause Details
- Part of widespread suspensions across many cities during the Panic of 1857; public meetings in Augusta and Savannah recommended banks suspend specie payments.
- Newspaper Excerpt
- The Union Bank, Bank of Hamburg. and Manufacturers' Bank, of Macon, suspended this morning.
- Source
- newspapers
Newspaper Articles (8)
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LIST OF SUSPENDED BANKS. IN GEORGIA. Georgia Railroad and Banking Company, at Augusta. Union Bank, at Augusta. Manufacturers' Bank, at Macon. All the Banks in Savannah. SUSPENDED BANKS IN SOUTH CAROLINA. Bank of the State of South Carolina, at Charleston, with branches at Columbia and Camden. Bank of South Carolina, at Charleston. Bank of Hamburg, at Hamburg. Planters' and Mechanics' Bank, at Charlestsn. Farmers' and Exchange Bank, at Charleston. People's Bank, at Charleston. South-western Railroad Bank, at Charleston. This bank, we believe, has an agency at Tallahassee, Florida.
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Celegraphic. Georgia Banks. AUGUSTA, GA., Oct. 14-A public meeting of citizens held in this city, rec ommends the Banks to suspend. The Union Bank has suspended this morning. There RTG no other suspensions in this city. MACON, GA., October 14.-The Manu. facturers' Bank in this city has suspen ded. Financial Affairs in Pennsylvania. Harrisburg, Pa., Oct. 14-The Legis lature, in special session in relation to fi nancial affairs, has adjourned. The Gov. ernor of the State has signed the Relief Bill. Citizens' Meeting in Savannah. Savannah, Ga., Oct. 14-A meeting of citizens, held in this city to day, recommended that the Banks suspend. The Georgia Rail Road Bank. Augusta, Oct. 13.-The Georgia Rail Road Bank has suspended. The Boston Banks. Boston, Oct. 15.-The Banks in this city yesterday, voted for a general suspension. New Orleans Banks. New Orienns, Oct. 14.-The Bank of JAMES ROBB kept paying specie till six o'clock torday. There is no doubt of its ability to go through the panic. There is no doubt of the Southern Bank. Virginia Banks. Richmond, Va., Oct. 15.-The Bank of Virginia in this city, and the Branch Bank at Petersburg. have suspended :also the Exchange Bank in this city, and the Exchange Bank in Petersburg. The Tennessee Banks. Nashvitie, Tenn., Oct. 16.-The Banks of this State having suspended, the Leg. islature is considering what course it is best to pursue. Suspension in Savannah. Savannah, Ga., Oct. 15.-A meeting of Presidents of the Banks of this city, held last evening, resolved unanimously upon suspension. and the resolution was carried into effect this morning. Financial Affairs in New York. New York, Oct. 14-All the Banks in this city suspended to day. More Suspensions New York, Oct. 14.-In Hartford, Conn., in Albany, N. Y., in Portland, Maine, and in New Jersey, all the Banks have suspended. Custom House Robbed. Richmond. Va. Oct. 13 The Custom
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We see by the papers from the South by this m orning's mail, that several of the Banks of Georgia have followed in the wake of a large number of other Southern Banks. Those mentioned are, the "Union Bank" of Augusta, the "Manufacturers' Bank" in Macon. Public meetings had been held in Augusta and Savannah, requesting the banks to suspend. The Bank of Hamburg, (S. C.,) has also suspended. In the Northern and Western States'the suspensions are so numerous that we had as well sum them all up in a lump. Everything in the shape of a bank seems to be in a state of suspension. So we go-one day up-next day down. This is a great age. The Bank of Louisiana has suspended. It is no use in mentioning names any longer-we had as well give up the ship at once, and tell the truth as we verily believe it is. The whole country is in a state of suspension We have a strong notion of following suit, and don't know but we would do so, were it not that our customers will keep poking the paper bullets. at us. We can't help taking them. Somehow we have a sort of propensity to take anything and everything we can get that will pay as we go. Bring the nasty things ni, gentlemen--don't stop because the Banks have set the example. We have not concluded to suspend receipting our bills to our customers for any Bank bills that are not counterfeit. Bring them to us-we want them at par-we are not afraid.-Daily Journal, 16th inst.
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memones or my maive mms, and the spare cold waters gushing from them. How bit. terly I cursed my fully, my ambition, my chivalry. my love of adventure, that bad led me far of my native to fever in or have the tropics. bills away Never from die the before of cool thirst fountains since and I suffered such agony as during this time on Lobos. But Neptune at last asserted the supremacy of his trident, and the winds hushed their three days the norther fury. After had the wasted usual its spell breath,and of there was a calm on the waters. Them we had water, fresh water from the ships, and our sufferinge were ended. BOSTON, Oct. 10.-A letter received per on reports matters as er money Niagara, throughout dated England, generally the 25th while ultimo, growing the demand tightwas also on the increase. At Manchester the late bueyancy had yielded to a depression, and on both goods and yarns a deeline had been submitted to. The demand for cotton for export continned active and more than absorbed the receipts. NEW YORK, Oct. 10.-If it were possible for Wall street to look bluer than it has done, then it looks SO to-day. The rates asked for money are higher than ever, and many failures are reported, including some heavy sugar dealers and paper dealers. The Illinois Central Railroad Company has an are rumors of more road course, made Company. trouble assignment. These in the things, There Reading of Railaffect the stock market most seriously. The Grocer's, Marine, Pacific, New York Exchange, Merchant's Exchange, North River, Citizen's, Irving and Ocean Banks, have suspended specie payments. Several of the country and some of the New Jersey bank bills have been thrown out. CHARLESTON, Oct. 18.-The People's Bank suspended to-day. AUGUSTA, Oct. 13.-The Georgia Railroad Bank has suspended. NewORLEANS,Oct.13.-Messrs. Oakey & Hawkins, large cotton factors in this city, have suspended. It is rumored that others will follow. AUGUSTA, Oct. 14.-At a public meeting of the citizens, held this day, it was recommended that suspend suspended specie payment. this morning. all The the Union banks Bank The Bank of Hamburg, and Manufacturer's Bank of Macon, have suspended. NEW YORK, Oct. N-Nineteen banks suspended yesterday, and it is believed that to-day the balance will go. The Tradesman's Market, St. Nicholas, Chatham, Bull's Head Banks, and the Bank of New York have suspended. Several old banks announced their ability and determination to go through the crisis, but it is feared that a general suspensiou is inevitable. Marine Bank was stopped by injunction and is The of customers, it presumed avoid that others have adopted the same means to the penalty of suspension. The excitement is relieved, and it is that the tempoBusiness, thought rary. however, suspension is is generally only deranged. FURTHER SUSPENSIONS.-The Southwestern Railroad Bank and the Bank of South Carolina suspended specie payments this forenoon. They are unquestionably solvent, as are all our banks. Note-holders and depositors need have no apprehension now or owe the amount beyond banksan eventually. The of debt, latter. community much Current the cash liabilities of the means are only wanted, and as specie cannot be obtained, what currency is next so good and convenient as the bank bills ? Why then sacrifice the latter by forcing suspensions An unnecessary and heedless panic possessed some this morning, and dashes were made in Broad street at various other banks, but the latter have met them steadily. The of our are prepared, and our majority nothing but banks the panic Let well of people can embarrass them. depositors at least remain calm. All rumors as to the suspension of other banks are incorrect; and the probability is, no more will suspend. They will not suspend, unless our own people comp them which is suicide. There is not a deposite or note of any Charloston Bank which is Evening News, I stepped in at the Bank of Charleston, when the excitement was at its height, and remained half an hour for the purpose of witnessing the effects of the rush for specie upon the insiders, and remarking the conduct, countenances and general department y of the motloy crowd of bill holdere, as th threw them upon the counter. and demanded the special Many incidents occurred which were altogether amousing to a disin
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Suspended Banks. The following is a list of suspended banks in Georgia: Union bank, at Augusta. Manufacturer's bank, at Macon, All the banks in Savannah. The following is a list of suspended banks in South Carolina: Bank of the State of South Carolina, at Charleston, with branches at Columbia and Camden, Bank of South Carolina, at Charleston. Bank of Hamburg, Planters' and Mechanics' bank, at Charleston, Farmers' and Exchange bank, Charles. ton. People's bank, Charleston, South-western Railroad bank, Charleston.
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List of Suspended Banks. IN GEORGIA. Georgia Railroad and Banking Company, at Augusta. Union Bank, at Augusta. Manufacturers' Bank, at Macon. All the Banks in Savannah. SUSPENDED BANKS IN SOUTH CAROLINA. Bank of the State of South Carolina, at Charleston, with branches at Columbia and Camden. Bank of South Carolina, at Charles. ton. Bank of Hamburg, at Hamburg Planters' and Mechanics' Bank, at Charleston. Farmers' and Exchange Bank, at Charleston. People's Bank, at Charleston. South-western Railroad Bank, at Charleston. This bank, We believe, has an agency at Tallabassee, Florida. A CANDID ACKNOWLEDGMENT OF AN UNDOUBTED TRUTH-At a meeting of the proprietors and managers of the Western Railroads, held a few days ago in Columbus, Ohio, a debate arose concerning the affairs of the roads, when one of the members remarked "that the milroads of the country never could repay, if they were disposed, the debt due to the newspaper press for its powerful aid when the idea of a. railway had to be explained and popularized-the public benefitsshown, and the people induced to come forward and associate for the purpose of accemplishing the great works that now need no advocate." The same gentleman, in concluding a speech on the subject, said, "he could not forget the amount of unpaid labor performed in the infancy of railway building by the only men who could reach the popular ear and the popular heart in the most effective manner." We believe, (with the Alexandria Gazette,) that in regard to many of the railroads of the country, they owe their inception, progress, and completion, mainly to the exertions of the newspaper.
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NO. 5. List of Suspended Banks. IN GEORGIA. Georgia Railroad and Banking Company, at Augusta. Union Bank, at Augusta. Manufacturers' Bank, at Macon. All the Banks in Savannah. SUSPENDED BANKS IN SOUTH CAROLINA. Bank of the State of South Carolina, at Charleston, with branches at Columbia and Camden. Bank of South Carolina, at Charleston. Bank of Hamburg, at Hamburg. Planters' and Mechanics' Bank, at Charleston. Farmers' and Exchange Bank, at Charleston. People's Bank, at Charleston. South-western Railroad Bank, at Charleston. This bank, we believe, has an agency at Tallahassee, Florida.