Nassau National Bank - New York, NY

Episode Information

Episode UID: 65801106
Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 6580 national
Charter Number: 658
Start Date: February 1, 1892*
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 9df54c4cf0c174ae

Response Measures

None

Description

Article describes New York banks collectively resuming specie payments; Nassau National Bank would be affected as a New York national bank.

Events (3)

1. December 29, 1864 Chartered

Source: historical_nic

2. February 1, 1892* Suspension

Cause: Macro News
Cause Details: Collective suspension of specie payments by New York banks in Feb 1892, refusing to supply gold for export and government dues.
Newspaper Excerpt: the banks ... suspended in February, 1892, by refusing to supply gold for export and for payment of government dues
Source: newspapers

3. November 9, 1896 Reopening

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

Newspaper Articles (1)

1. November 14, 1896 Red Lodge Picket Red Lodge, MT

Article from Red Lodge Picket, November 14, 1896

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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.