2964. Bank of Milledgeville (Milledgeville, GA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
November 7, 1839
Location
Milledgeville, Georgia (33.080, -83.232)

Metadata

Model
gpt-5-mini
Short Digest
7afdf4c1

Response Measures

None

Description

Multiple contemporary newspaper reports (Nov–Dec 1839) list the Bank of Milledgeville among several Georgia banks that had 'suspended' specie payments during a statewide scarcity of money. Articles mention some suspended banks 'talk of resuming' (i.e., reopening). No article describes a depositor run, receivership, or permanent closure for this bank in the provided material.

Events (1)
1. November 7, 1839 Suspension
Cause
Macro News
Cause Details
Statewide scarcity of specie and widespread suspensions of Georgia banks amid hostile legislative sentiment toward banks; banks 'brought to a halt' and unable to collect or lend, leading to suspension of payments on notes in Nov 1839.
Newspaper Excerpt
I subjoin a list of all the suspended and broken banks in this state... Bank of Milledgeville... These are suspended.
Source
newspapers

Newspaper Articles (3)
1. November 15, 1839 Morning Herald New York, NY
Article from Morning Herald, November 15, 1839

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Article Text

[Correspedence of the Herald.] Macon, Nov. 7, I$39. I last addressed you from Charleston. Since then, I have visited MiHedgeville, the metropolis of this state. The legislature commenced its session OR Monday. On Wednesday the Governor elect, Judge McDonald, was duly installed. You have, DO doubt, read the message of Governor Gilmer, in which he expressed himself decidedly against the banks. The legislature is decidedly locofoco, and harsh measures will be adopted against such as suspend. A.bill is already prepared to compel them to resume, under the penalty of not receiving interest from their debtors. or being allowing to sue themthus making bad worse. This will not pass, but shows somewhat the state of feeling which pervades nearly the whole legislature. All of the banks in the state are brought to a halt. They can col lect nothing. and they wont lend a dollar. The The Ocmulgee and Monroe railroad, of this place, spended a short time since, and commenced discounting and throwing out their paper trash. The planters and banks handled it so tenderly that they took the alarm and hauled in. Their notes are refused now in Savannah (where they were lately bankable) and I believe are now rejected by all the banks in the state, out of this place. There is an evident uneasiness among the banks in this place about these notes, and I look for them to be discre dited in every direction. I subjoin a list of all the suspended and broken banks in this state. I think the residue will continue to pay their debts, and some of those that have suspended, talk of resuming. Bank of Augusta, Insurance Bank of Augusta, Bank of Columbus. These are suspended, but speak of resuming immediately. Bank of Milledgeville, Georgia Railroad, at Athens; Oemulgee, Monioe Railroad, Planters' and Mechanic.' Bank of Columbus. These are suspended. Farmers' Bank at Chattahoochie, Bank of Darsen, Western Bank at Rome, Bank of Macon. These are broken, and the last one entirely worthles The scarcity of money in this country is beyond all precedent, but the merchants here dont do as the New Yorkers do. If they cant raise the wind without dividing the spoil with the brokers and shavers, they wait the issue of the law. A Georgian dont feel disposed to sacrifice his all at the shrine of punctuality. Property must change hands to an enormous extent, but the law has to be the arbiter in these cases. They are a law-abiding set. When nothing else can be done, its dictates are submitted to with as much resignation as can be expected from a hot-headed people. Yours, GALLATIN. Religion and Rum in Boston.-The Rev. John Pierpoint is again parson of the Hollis street church He was recently ejected for his ultra temperance doctrines. Amerigo Vespucci is sojourning at the Tremont House, Boston. The Third District.-Official returns have been received, and the three whig candidates are elected to the Senate. General Root by one vote! The words three dollars in the original bills are stricken out and the words twenty dollars substituted. Troops for Florida. - One hundred dragoons under the command of Lieutenant Darling, left this city on Wednesday, for Florida.

2. December 12, 1839 Edgefield Advertiser Edgefield, SC
Article from Edgefield Advertiser, December 12, 1839

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Article Text

Edgefield Court House, S. C., December 12, 1839. From the Augusta Constitutionalist. TRANSION HOUSE, POCLAMATION. BANKS IN GEORGIA. Miscellaneous. We are often asked the questionwhat banks in Georgia pay specie. and [BY REQUEST.] which do not? We believe the following We call the attention of Commissioners banks and branches pay specie on demand of Roads to the article signed Chee-Toi." viz : it is from an eminent Jurist, whose opin. SPECIE PAYING BANKS.-Mechanies' EDGEFIELD C. HOUSE, S.C. ion always command respect. We hope Bank, Augusta. The Banks of Savan HE Undersigned takes pleasure in anit will satisfy our Friend, whose article, nah Bank of Brunswick. Banks of St. T nouncing to his friends and the travelling published two weeks since. elicited his reMary's. Central Bank, Milledgeville,communiy. that he has taken the Hotel in EdgeTemperance Advocate. Branch & Fire Marine Insurance Bank, field Village,former occuped by Mr. W. BrunECUTIVE DEPARTMENT. at Macon. Branch State Bank. at Washson. and in prepared to accommodate travellers Mr. Editor:COLUMBIA. Nov. 20th. 1839 and boarders either families or single persons. ington. Branch State Bank, at Macon,Your correspondent Friend," whose comExcellency PATRICK NOBLE. Esq. With his experience and personal attention. he Branch State Bank, at Eatonton. Branch flattershimself that those who favor him with nor and Commander in. Chief in munication was published by you on the State Bank. at Milledgeville, Commer7th ult., proposes a question of great imtheir patronage. will be satisfied, and feel at cer the State of South Carolina cial Bank of Macon. Insurance Bank of EREAS an lection was held on the home; 10 produce these effects, no pains will be portance as the law now stands, but which Columbus and Branches. spared. His House is situate m the most econd Moi day of October last, and will be of little moment as the law will, 1 SUSPENDED BANKS.-Bank of Auguspleasant part of the Village. and is well calcnallowing to supply the vacaucy in the hope, shortly be. ta, Insurance and Banking Company, ional District of Richard Lexington, lated. in every respect. for the accommodation His question is, whether the Commisof Families. O* Private Boarders Al he asks, Augusta. Georgia Rail Road Bank and trg and Barnwell. occasioned by the sioners of Roads can, consistantly with m of the Hon. F. II. Elmore. and is for persons to call and judge for hem-elves. Brauches. Bank of Milledgeville. Oelaw, refuse license to a man of good WM. V. DUNN. it appears uponcounting the votes remulgee Bank, Macon. Monroe R. Road if 42 the Managers of the election. to the Nov. 19. 1839 : character, who offers to comply with the Bank and branches. Planters' and McThe Augusta Chronicle & Sentinel. Green Secretary of State, that SAMPSON H. sattutory requisitions. From the tone of chanic' Bank, Columbus. Bank of Cohad a majority of said votes, Now ville Mountaineer. Charleston Mercury, and his communication, it is manifest that he lumbus. Western Bank, at Rome. Bank South Carolinian will insert the above 4 times. I. Patrick Noble. Governor of the is a good man in search of truth, with a of Darien and Branches. Branch State and forward their accounts to this office for colouth Carolina. do hereby declare and view to the consciencious performance of Bank, at Augusta. lection that the said Sampson H. Butler, his duty: and is there f re. entitled to the DOUBTFUL BANK.-Branch State Bank, duly elected a Representative from best advice which can be suggested. Alat Athens. . for the District of Richlaud. Lexthursh not to offer the best I titute of South evelity

3. December 14, 1839 Columbus Democrat Columbus, MS
Article from Columbus Democrat, December 14, 1839

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Article Text

From the Richmond Enquirer. # GEORGIA Governor McDonald was inaugurated on the 6th instant, in the presence of an immense crowd in the State House. His brief but appropriate inaugural address will be published in our next. The Legislature had previously counted the official returns of the votes, and found that McDonald had 32,634, Dougherty, 32,907-majority 1,827. A bill has been introduced into the Senate to repeal the act authorizing general banking-and a bill is introduced "more effectually to compel banks to redeem their paper in specie. By this bill it is provided, that during the suspension of specie payments by the Banks, those institutions will be debarred from commencing suits on any notes, bonds, &c. due them. Where suits have already commenced, they are to be continued to the next term of the court, etc. During the suspension, the banks are prohibited from transferring notes, bonds, or drafts payable at and discounted by such banks." The Charleston Courier publishes the following extract of a letter, dated Milledgeville, November 9: "There is a strong feeling against the Banks here. There is but little doubt that they will be required to pay specie before long, or lose their charters. The Bank of Milledgeville has been protested in 900 cases, and I am told they will be sued on each in a Magistrate's Court. The Legislature is decidedly Administration, and will cry aloud and spare not, where banks are concerned." # JEFFERSON The Federalists having assumed many names, such as Whigs, and Jeffersonian Whigs, within the last two years; and having also very frequently quoted Jefferson, the Apostle of American Democracy, as authority to prove the correctness of the measures they advocate, we beg leave to submit to the people the following extract of a letter from Jefferson, to the venerated Lalayette, dated Nov. 4, 1823, as an evidence that the party terming itself " Whig" is the same which was known as Federal in '98 : "You are not to believe that these two parties (federal and democratic) are amalmagated-that the lion and the lamb are lying down together. The Hartford Convention, the victory of New Orleans, the peace of Ghent, prostrated the name of federalism. Its votaries abandoned it through shame and mortification, and now call themselves republicans. But the name alone is changed, their principles are the same. For in truth, the parties of Aristocrats and Democrats are those of nature. They exist in all countries, whether called by these names, or by those of Tories and Whigs, ULTRAS and RADICALS, Serviles or Liberais." # NOT A FABLE A boy in this city, three years of age was asked who made him? With his little hand a foot from the floor he artlessly remarked,- "God made me a little baby, so high, and i grete the rest." "Gentleman," is a name often bestowed on a well dressed blackguard, and withheld from its right owner, who only wears its qualifications in his chart.