Bank of Kentucky - Lexington, KY

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: November 1, 1818*
Location: Lexington, Kentucky (37.989, -84.478)

Metadata

Model: gpt-5-mini
Short Digest: 6c65acf1

Response Measures

None

Description

Article (Richmond Enquirer, 1818-12-12) reports a suspension of the Bank of Kentucky (Lexington) in November 1818; community meeting and committee were appointed to investigate causes and the U.S. Branch agreed to assist resumption — implying the bank sought to reopen. The text asserts the bank was able to meet demands and had not been forced to stop specie payments, so no explicit run is described. Cause is not clearly stated in the article (treated as 'other/unknown'). OCR errors in the clipping were corrected (e.g., spacing and some garbled words) but did not affect core facts.

Events (1)

1. November 1, 1818* Suspension

Cause Details: Article does not state a clear trigger; citizens astonished and a committee was appointed to investigate. Bank declared able to meet demands and U.S. Branch offered assistance to resumption of specie payments.
Newspaper Excerpt: committee appointed to enquire into the causes of the suspension
Source: newspapers

Newspaper Articles (1)

1. December 12, 1818 Richmond Enquirer Richmond, VA

Article from Richmond Enquirer, December 12, 1818

Click image to open full size in new tab

Article Text

tortified, and was the residence, you well know. of hakespeare's Hamiet. The castle of that Prince, now in ruins, is about threemiles_from the shore." BANK OF KENTUCKY, LEXINGTON, November: so in favor of this institution we expect. that in two follow little highly did the days it would last, example of the banksa Cineinnati -yet such is the fact to the utter astonishment of every person in this place. Nothing could exceed the astonishment and indignation, which the news of the event excited here. meeting et the citizens of the town and countywas held at the court house on Saturday, and a committee appointed to enquire into the causes of the suspension, and report to another meeting on Saturday evening next. Until that committee shall have reported, and the bank have had time to publish its justification, we shall for. beartocomment.-0ne of the editors of this paper being nominated on the committee ap. pointed on Saturday, it would be premature to enter upon the subject at present. We were entirely correct, as believe, in the statement made last week, that the bank of Kentucky is completely able to meet all the demands made upon her; sheis not at present, under necessity Estopping pecie payments. We derived this information from sources which place its correctness above suspicion and the deduction we made from 11 was the only one, which we could make without impeaching her character, and libelling the di. rectory. The branch of the Kentucky bank at this place. was not less astorished and mortified than the people The whole directory wished to good with specie payments, whichth de clared the complete ability of their bank to do: and said they would resign if not permitted We nuderstand the United States Brauch in this town, very readily agreed to afford every facility necessary to the resumption of specie payments every indulgence and accommoda. tion asked by the Bank of Kentucky was promptly acceded to. The Farmers' and Mechanics' Bank, 05 new Independent Bank of this place, came to the resolution immediately, that they would conti DHO to pay specie. They say it is impossible to prevent them from doing so, as they have much larger amount of specie on hand than of notes in circulation ; and asthey are determin. ed to pay to the last dollar, and cease to issue paper, rather than not to redeem it. Such course is highly honorable to that bank: may the directors persevere in it, and may they re. ceive the support which fair dealing and good faith deserve. [Reporter. A work has just come under our view enti tled-A treatise on political economy, to which is prefixed a supplement to a preceding work on the understanding, or elements of ideology, with an analytic table, and introduction on the facuitye the will; by the count Destuit Tracy, member of the institute of France, and of the American Phi. lesophical Society, translated from the unpublished French original; published by Joseph Milligan, Georgetown, Columbia. This work is rendered remarkable and more interesting by a letter from Thomas Jefferson, late president of the United States, dated October, 1818, which we prefer copying than to abstract it. MONTICELLO, OCTOBER 25. 1818. SIR-Inow on,according to promise, the translation of M. Destutt Tracy's Treatise on Political Economy, which I have carefully revised and corrected. The numerous corrections of sense in the translation, have necessa rily destroyed uniformity of style, so that all may say on that subject. is that the sense of the anthor is every where now faithfullyexpressed. It would be difficuit to do justice, in anytrans. lation. to the style of the original, in which no word is nonecessary. no word can be changed for the better. and severity of logic resuits in that brevity, to whichww wish all science reduced The merit of this work will, I hope, place it in the hands of every reader in our country. By diffusing sound principles of political economy, it will protect the public industry from the parasite institutions now consuming it, and lead W3 to that justand regu lar distribution of the public burthens from which we have sometimes strayed. It goes forth, therefore, with my hearty prayers, that while the Review of Montesquieu, by the same author, is made with natinelementary book of instruction in the principles of civil govern. ment, so the present work may be in the parti. cular braneli of pelitical ec. notev. THOMAS JEFFERSON. MR. MILLIGAN. Independent of the particular notice of the present work, by an authority so competent and respectable, this letter reveals the name of the author of another work, published about five years ago, entitled a Review of Montes quieu, to the pen of Mr. Tracy. This latter work had been very generally attributed to Mr. Jefferson himself, from the correspondence of its opinions, and the profonnd understanding and pure principles of policy which itdisplays, and which Mr Jefferson now thinks so much of as to express his wishes. that it may with the present work. lis made nse of for elemen lary instruction in places of education. [Aurora. BRUSSELS, October 10.-The Journalists of Aix la Chapelle have been prohibited from speaking of the Empress Maria Louisa, in their papers; but this prohibition was not ne. cessary, because the disen-sions take place in private, and nothing transpires. The ensuing year appears, from every cir. comstance, to be pregnant with important events for America It opens under anspices so favorable for the Independents, that the close of it will most probably witness the termination of the Spanish dominion in the New World. In proport OT as the mother cometry relaxes her exertions, the Patriots acquire greater strength, and display moremanly ener.