3401. Miners Bank (Dubuque, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
May 13, 1845
Location
Dubuque, Iowa (42.501, -90.665)

Metadata

Model
gpt-5-mini
Short Digest
227412a3

Response Measures

None

Description

Legislature repealed the bank's charter (government action) in May 1845; articles report the repeal and note prior suspensions but do not describe a depositor run or reopening. Cashier announced notes would continue to be redeemed on demand. Classified as suspension leading to closure.

Events (2)
1. May 13, 1845 Suspension
Cause
Government Action
Cause Details
Iowa Legislature voted to repeal the bank's charter (bill passed both branches); effectively closed the bank by legislative action.
Newspaper Excerpt
repealed the charter of the Miner's Bank of Dubuque, the only one which pulluted her virgin soil.
Source
newspapers
2. June 7, 1845 Other
Newspaper Excerpt
The Cashier has published a Card, notifying the public that the notes will continue to be redeemed in special on demand. There seems to be some consolation in this announcement, as heretofore defunct wild cat has proven worthless. But if the bank redeems her notes now, it is more than they have always done, for during several suspensions, we have seen their bills a begging at 191 cents on the dollar.
Source
newspapers

Newspaper Articles (2)
1. June 6, 1845 The Kalida Venture Kalida, OH
Article from The Kalida Venture, June 6, 1845

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Article Text

The Stark County Democrat has the following in relation to the Bank of Wooster. BANK OF WOOSTER. The Standard" says it has enquired of the bank, and it is not true that the bank is broke or hard run. We hope this is a fact; but then we have no confidence in what a banker may say under such circumstances, since, at the request of a friend who wrote to us from a distant part of the State, for information, we went to the officers of the Canton Bank with our letter, stating the fac's and desiring correct information that we might write the truth in answer. We were then informed that the bank was in a sound condition, and able to redeem all its circulation in a short time-so we wrote to our friend -and, in a short time the bank bursted outright. lowa REPUDIATING DISMONEST BANKING.-The following from a disinterested citizen of Ohio now in Iowa, shows that the last vestige of dishonest banking has been driven from the soil of that noble territory: IOWA CITY, May 13th, 1845. My DEAR COL.-It offords me great pleasure to be able to inform you, that on this day, the young and lion-hearted democracy of this Territory, repealed the charter of the Miner's Bank of Dubuque, the only one which pulluted her virgin soil. In the Assembly the vote was unanimous; in the Council it was 12 to 1.! It is expected that Gov. Chambers will veto the bill, but should he it can be passed hv third vote

2. June 7, 1845 Wisconsin Herald, and Grant County Advertiser Lancaster, WI
Article from Wisconsin Herald, and Grant County Advertiser, June 7, 1845

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Article Text

MINERS BANK OF DUBUQUE.-We see it stated in the Iowa papers that a bill to repeal the charter of the Miners Bank of Dubuque, has passed both branches of the Legislature, with but one dissenting vote, and become a law. However desirable it might have been to rid the country of another shaving. " Wild Cat" institution, in which the people of the West has had dearly bought experience enough to make them desirous of discarding any such bank rag" currency, we very much question the constitutional authority of the Legislature, to repeal 3 chartered Institution, before a judicial investigation has been had and the conditi ions of its charter declared forfeited. The Cashier has published a Card, notifying the public that the notes will continue to be redeemed in special on demand. There seems to be some consolation in this announcement, as heretofore defunct wild cat" has proven worthless. But if the bank redeems her notes now, it is more than they have always done, for during several suspensions, we have seen their bills a begging at 191 cents on the dollar.