Princeton Bank (Princeton, NJ)

Bank Information

Episode UID
55030370497
Episode Type
Suspension → Reopening
Bank Type
state
Bank ID
5503037 routing
Routing Number
55-0303
Start Date
May 5, 1841
Location
Princeton, New Jersey (40.349, -74.659)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f0a895ff17282b43

Response Measures

None

Description

Sources show Princeton Bank listed among suspended New Jersey banks in 1841; later article (Jan 1842) discussion of specie status is ambiguous—additional sources recommended.

Events (1)
1. May 5, 1841 Suspension
Cause
Macro News
Cause Details
Listed among New Jersey suspended (non‑specie paying) banks during the 1841 specie suspension period
Newspaper Excerpt
The following is a list of the suspended banks of this State: ... Princeton Bank at Princeton
Source
newspapers

Newspaper Articles (2)
1. May 5, 1841 Jeffersonian Republican Stroudsburg, East Stroudsburg, Milford, PA
Article from Jeffersonian Republican, May 5, 1841

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Article Text

The notes of the non-specie paying banks of New-Jersey, are worth in New-York only 94 cents to the dollar. The notes of those which pay specie are at par or a half per cent. discount. The following is a list of the suspended banks of this State: Burlington County Bank at Medford, Cumberland Bank at Bridgeton, Farmers' Bank of New-Jersey at Mount Holly, Mechanics' Bank of Burlington, Mechanics' and Manufacturers' Bankat Trenton New-Hope Delaware Bridge Co. Lambertville, Princeton Bank at Princeton, Salem Banking Company, at Salem, State Bank at Camden, Trenton Banking Company, Trenton. Sussex (N. J.) Register.

2. January 31, 1842 The Daily Madisonian Washington, DC
Article from The Daily Madisonian, January 31, 1842

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Article Text

Non-Specie Paying Banks. " 1 2 Trenton Banking Co., " 1 9 State Bank, Camden, " 1 5 Salem Banking Co., Mech. & Manu. Bank, " 1 3 Trenton, Farmer's Bank, N. J., " 1 3 Mt. Holly, 1 3 Mech. Bank, Burlington, New Hope Delaware 1 36 Bridge Co., 1 3 Cumberland Bank, " Burlington Co, B., Medford, 1 Princeton B., $1 "specie & specie funds" 4 It will be observed that the non specie banks, (omitting the New Hope and Delaware,) have, on an average, quite as much specie on hand, in proportion to their circulation, as the specie paying banks have. In this respect their condition is much better than it was a year ago. Their circulation has been materially lessened, while their specie has increased.This is the effect of the talk about resumption. The following schedule exhibits the circulation and specie of the suspended banks in Jan. 1841, and Jan 1842: