gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
aa1a429e34f2eda1
Response Measures
None
Description
The articles describe a city-wide suspension of gold payments by New York banks starting in February 1892 and their planned resumption in November 1896.
Events (4)
1.April 11, 1864Chartered
Source
historical_nic
2.February 1, 1892*Suspension
Cause
Macro News
Cause Details
Refusal to supply gold for export and government dues to protect reserves, shifting the burden to the U.S. Treasury.
Newspaper Excerpt
The banks are contemplating the resumption of specie payments, which they suspended in February, 1892, by refusing to supply gold for export and for the payment of government dues.
Source
newspapers
3.November 9, 1896Reopening
Newspaper Excerpt
The banks are contemplating the resumption of specie payments... Since the election the metal has been coming into the banks in such a flood that they see their way clear to what can be termed resumption of specie payments.
Source
newspapers
4.March 12, 1904Voluntary Liquidation
Source
historical_nic
Newspaper Articles (10)
1.November 9, 1896Santa Fe Daily New MexicanSanta Fe., Santa Fe, NM
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Article Text
PLENTY OF GOLD IN NEW YORK The Gotham Banks Contemplating Resumption of Gold Payments and Thus Relieving Treasury. GOLD WILL BE PUT INTO CIRCULATION Wheat Market Broke Season's Record This Morning-December Jumped to Over 80 Cents-Rise Not Attended by Excitement. New York, Nov. 9. -The banks are contemplating the resumption of specie payments, which they suspended in February, 1892, by refusing to supply gold for export and for the payment of government dues. That action threw the burden of supplying gold upon the treasury and eventually forced the issue of bonds by the government. Since election the yellow metal has been coming into the banks in a flood. By this action of the banks, gold will be put into circulation, and no reason whatever will exist for hoarding it. They will also resume the task of supplying gold for export and thus relieve the treasury of a great strain.
2.November 9, 1896Deseret Evening NewsSalt Lake City, UT
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Article Text
WILL RESUME SPECIE PAYMENT, The Banks will Supaly Gold and ReHeve the areasury, NEW YORK, Nov. 9,-The banks are contemplating the resumption of specie payments which they suspended in February, 1892, by refusing to supply gold for export and for the payment of government dues. That action threw the burden of supplying gold upon the treasury, and eventually forced the issue of bonds by the government, which aroused so much complaint. Since the election, the metal has been coming into the banks in such a flood that they see their way clear to what can be ternied re. sumption of specie payments. By this action of the banks, gold will be put into circulation and no reason whatever will exist for hoarding it. They will also resume the task of supplying gold for export and thus relieve the treasury of a great strain.
3.November 9, 1896The Topeka State JournalTopeka, KS
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Article Text
BANKS WILL PAY OUT GOLD They Will Relieve the Treasury of the Burden it Had. New York, Nov. 9.-The banks are contemplating the resumption of specie payments, which they suspended in February, 1892, by refusing to supply gold for export and for the payment of government dues. That action threw the burden of supplying gold upon the treasury and eventually forced the issue of bonds by the government which aroused SO much complaint. Since the election gold has been coming into the banks in such a flood they see their way clear to what can be termed the resumption of specie payments. By this action of the banks gold will be put into circulation and no reason whatever will exist for hoarding it. They will also resume the task of supplying gold for export and thus relieve the treasury from the strain.
4.November 10, 1896The Dalles Daily ChronicleDalles, OR
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Article Text
Banks Feel the Effect of Restored Confidence. NEW YORK, Nov. 9.-The banks are contemplating the resumption of specie payments which they suspended in February, 1892, by refusing to supply gold for export and for payment of government dues. That action threw the burden of supplying gold upon the treasury, and eventually forced the issue of bonds by the government, which aroused so much complaint. Since the election the metal has been coming into the banks in such a flood that they see their way clear to what can be termed a resumption of specie payments. By this action of the banks gold will be put into circulation, and no occasion whatever will exist for hoarding it. They will also resume the task of supplying gold for export and thus relieve the treasury of a great strain.
5.November 10, 1896Pine Bluff Daily GraphicPine Bluff, AR
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Article Text
THEIR WAY CLEAR Coming Into the Banks In a Flood. PTION OF SPECIE PAYMENT York Banks Are Contemplating Move-They - Suspended Such stent In February, 1892, by Reto Supply Gold For Export-Facnd Shops Running Full Time. YORK, Nov. 10.-The banks are W implating the resumption of specie ents, which they suspended in arry, 1892, by refusing to supply for export and for the payment of mment dues. That action threw borden of supplying gold upon the Sary and eventually forced the issue bonds by the government, which red SO much complaint. Since the metal has been coming into the firs in such a flood that they see their clear to what can be termed the reotion of specie payments. By this of the banks gold will be put on circulation and no reasons whatwill exist for hoarding it. They also resume the task of supplying for export and thus relieve the stray from the strain.
6.November 11, 1896Semi=weekly GraphicPine Bluff, AR
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Article Text
# SEE THEIR WAY CLEAR
Gold Coming Into the Banks
In a Flood.
# RESUMPTION OF SPECIE PAYMENT
New York Banks Are Contemplating Such a Move-They Suspended Such Payment In February, 1892, by Refusing to Supply Gold For Export-Factories and Shops Running Full Time.
NEW YORK, Nov. 10.-The banks are contemplating the resumption of specie payments, which they suspended in February, 1892, by refusing to supply gold for export and for the payment of government dues. That action threw the burden of supplying gold upon the treasury and eventually forced the issue of bonds by the government, which aroused so much complaint. Since the election metal has been coming into the banks in such a flood that they see their way clear to what can be termed the resumption of specie payments. By this action of the banks gold will be put into circulation and no reasons whatever will exist for hoarding it. They will also resume the task of supplying gold for export and thus relieve the treasury from the strain.
7.November 12, 1896The Topeka State JournalTopeka, KS
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Article Text
RELIEVES THE TREASURY. New York Banks Contemplate an Early Resumption of Specie. New York, Nov. 12.-The banks are contemplating the resumption of specie payments, which they suspended in February, 1892, by refusing to supply gold for export and for the payment of government dues. That action threw the burden of supplying gold upon the treasury, and eventually forced the issues of bonds by the government which aroused so much complaint. Since the election the metal has been coming into the banks in such a flood they see their way clear to what can be termed the resumption of specie payments. By the payment of balances at the clearing house in clearing house certificates for gold, as the sub-treasury is a member of the clearing house, gold will flow into the government vaults when the sub-treasury is a creditor of the clearing house. By this action of the banks the metal will also be put into circulation, and no reason whatever will exist for hoarding it. They will also resume the task of supplying gold for export, and thus relieve the treasury from the strain.
8.November 12, 1896Morning AppealCarson City, NV
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Article Text
ACKNOWLEDGING THE CORN. The following dispatch from New York shows how the banks worked a conspiricy to compel the Government to issue bonds by which they were able to clean up several million dollars. The dispatch reads: The banks are contemplating the resumption of specie payments, which they suspended in Feburary 1892, by refusing to supply gold for export and for the payment of government dues, This action threw the burden of supplying gold upon the treasury and eventually forced the issuing of bonds by the Government, which arroused so much complaint, Since the election the metal has been coming into the banks in such a flood that they see their way clear to what can be termed a resumption of specie payments. By this action of the banks the gold will be put into circulation and no reason whatever will exist for hording it.
A New York special notes among the many good signs of the times resulting from the election of McKinley, that the banks are contemplating the resumption of specie payments which they suspended in February, 1892, by refusing to supply gold for export and for the payment of government dues. Since the election the metal has been coming into the banks in such a flood they see their way clear to resume specie payment. By this action of the banks, the metal will also be put into circlation and no reason whatever will exist for hoard ing it. They will also resume the task of supplying gold for export and thus relieve the treasury from the strain This is only one of the many good "signs of the times."
10.November 14, 1896Pullman HeraldPullman, WA
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Article Text
WILL RELIEVE THE TREASURY. New York Banks Contemplate the Resumption of Specie Payments. New York, Nov. 9.-The banks are contemplating the resumption of specie payments, which they suspended in February, 1892, by refusing to supply gold for export and for payment of government dues. That action threw the burden of supplying gold upon the treasury and eventually forced the issues of bonds by the governemnt which aroused so much complaint. Since the election the metal has been coming into the banks in such a flood that they see their way clear to what can be termed resumption of specie payments. By this action of the banks gold will be put into circulation, and no reason whatever will exist for hoarding it. They will also resume the task of supplying goll for export, and thus relieve the treasury of a great strain.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
