7618. Commercial Bank (New Orleans, LA)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
May 17, 1842
Location
New Orleans, Louisiana (29.955, -90.075)

Metadata

Model
gpt-5-mini
Short Digest
dda43632

Response Measures

Accommodated withdrawals, Full suspension

Other: Final stage described as 'liquidation' (bank went into liquidation in early 1843).

Description

Commercial Bank (New Orleans) participated in resumption on May 16–17, 1842 and experienced a brief run that day but paid out specie and remained open. In Feb 1843 the Commercial Bank again suspended specie payments (reports dated Feb 21, 1843) amid runs on other banks and soon went into liquidation (contemporary reports mention it has gone into liquidation). Bank type not explicit in articles. Causes: May 1842 run driven by local developments among New Orleans banks (some banks refused to resume); Feb 1843 suspension appears tied to insolvency/liquidation (bank-specific adverse information/illiquidity). Dates derived from newspaper reports; March 11, 1843 article reports liquidation having occurred.

Events (3)
1. May 17, 1842 Run
Cause
Local Banks
Cause Details
Run occurred when some New Orleans banks (Consolidated, Citizens, State) refused to join resumption; panic and depositors sought specie from resuming banks.
Measures
Paying tellers were doubled and trebled; banks paid out specie promptly to accommodate note holders.
Newspaper Excerpt
On the opening of the Banks, a considerable run was made upon them by the holders of small sums... Commercial $30,000 ... the demand for coin abated
Source
newspapers
2. February 21, 1843 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Commercial Bank suspended specie payments amid great excitement and runs; contemporary reports indicate insolvency/illiquidity culminating in liquidation.
Newspaper Excerpt
the Commercial Bank of New Orleans, suspended specie payment yesterday; there Was of course great excitement in that City, and a run upon all the other Banks.
Source
newspapers
3. March 11, 1843 Receivership
Newspaper Excerpt
The Commercial Bank of New Or beans has gone into liquidation. The Tropic of the 21st ult. says there was a slight run, the day previous, on the other banks, attended however, with no disastrous effects.
Source
newspapers

Newspaper Articles (19)
1. December 20, 1841 The Daily Madisonian Washington, DC
Article from The Daily Madisonian, December 20, 1841

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RESUMPTION IN NEW ORLEANS. The New Orleans Morning Advertiser, of the 9th instant, has an encouraging article on this subject; not only encouraging, but a little threatening, too, towards the conclusion. It commences with saying that "To-day we understand the subject of immediate resumption will be brought up at the Board of Directors of the Commercial Bank, and it is confidently believed that the decision will be to follow t e example of the Bank of Louisiana at once. We know that there are members of the Board favorable to the policy of resumption without delay. They see that every hour it is put off, the danger increases. Whether their advice will be taken, is another thing. If it is, the community will rally around the Bank, and hail with joy her return to the good old path of honesty," The Citizens' Bank is spoken of as "getting ready to come out of the valley of darkness;" the State Bank and Consolidated Association as likely to follow, and the Union Bank as not likely to lag behind. But what, he asks, will become of the other banks? And bids them follow their leaders ; and, if they cannot, tells them to go the way of all flesh; thinking it better they should die now than a year hence, to carry with them the now solvent institutions. The Gas Bank, a editor says, did not vio. late the amnesty of 1838, and is still a specie paying bank, and that the Merchants' Bank has escaped the disgrace of suspension at this late day. This bank had sent money to Mississippi in exchange for cotton, and much of it having been returned upon her, the Directors resolved not to emit the half million they recently contemplated. This is stated however qualifiedly, and not certainly. The editor congratulates the public for having gained by the discussion of these Bank matters two important points-the resumption of specie payments by the Bank of Louisiana, and the abandonment of the proposed issue of broken

2. December 21, 1841 New-York Tribune New York, NY
Article from New-York Tribune, December 21, 1841

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The pressure in the money market continues. Treasury notes, 6 per cent., ¼ per cent. discount. Good short paper in the street 1 a 1½ per cent. per month. The New-Orleans Advertiser states that the subject of resumption was before the Board of Directors of the Commercial Bank on the 9th inst. and it was confidently believed that she would follow the example of the Bank of Louisiana. This Bank has about $1,100,000 Circulation and Deposites and $315,000 Specie and Bank notes. If like the Bank of Louisiana she only resumes on her circulation, she will have the above amount of assets to meet $629,000 of notes. The Advertiser also states that it is believed that the Citizens,’ the Union, the State Bank and the Consolidated Association are preparing to speedily resume. It was understood that the message of the Governor would take high ground on the immediate resumption of all the Banks, and that those that were unable should go into liquidation. A motion in the Virginia Legislature to release the Banks from the penalty of 12 per cent on every note they shall fail to redeem after the 1st January next, was lost by a majority of five votes, as was another requiring of the Banks a rapid curtailment of discounts. The Buffalo Commercial Advertiser of the 14th instant states that an effort will be made to resuscitate the Commercial Bank of that City. The argument on the injunction which was to have been heard on the 7th, was postponed until the 21st, and in the mean time strong efforts will be made to sustain the Bank. Although a large part of its capital is locked up in Real Estate, yet it is some of the most valuable in Buffalo, and is worth more in cash than it cost the Bank. Counterfeit Threes on the Bank of Brunswick, Maine, are in circulation at Buffalo. The Baltimore City Council have under consideration a proposition to issue $500,000 of City Bonds at six per cent. to be used in the purchase of Railroad orders. The Comptroller we understand has made a requisition on the Banks for one half of one per cent. on their capital for Safety Fund purposes, payable on the 1st January. He will therefore soon be in funds to redeem the liabilities of the suspended Safety Fund Banks. Holders of such notes should not submit to a sacrifice. ### New-York Markets. ASHES. Sales 50 bbls: Pots at 5 87½; 40 do Pearls at 5 50, at which holders are firm. COTTON. The sales to-day have been 600 or 700 bales without change in price. The stock has been reduced by shipments, and the market has a tendency to be more firm. FLOUR. Very little doing. Shippers offer 6 00 for Western Canal which is refused. 6 12½ is demanded. We could not hear of sales for export. Southern without change and dull; Georgetown 6 37½ Brandywine 6 50, Richmond City Mills at 7 50. GRAIN. The only sales reported were 2000 bushels Rye at 75c in the slip, time and interest, and 2600 bushels Ohio Corn at 65c. weight, delivered. Oats have improved in consequence of the closing of the Hudson. We quote 48 a 50. Barley is firm at 74c. No sales Wheat. ### New-York Cattle Market. [Reported for the Tribune.] At market 875 head of Beef Cattle, including 200 left over last week, 250 of which was from the South, and the balance from this State; 40 Milch Cows and 1100 Sheep and Lambs. There was a better demand for the best qualities of Beef, but common and inferior qualities were the same as last week. Sales of 775 head at $4½ to $7¼, averaging $5½ the 100 lb. MILCH COWS. Sales of 30 at $25 to $40 each. SHEEP AND LAMBS were all taken—Sheep at $1 50 to $5. Lambs at $1 to $3 each. HAY. Sales by the load at $1 to $1 12½ the 109 lb. ### ST. LOUIS MARKET. Dec. 7. Business on the Levee is quite brisk, and boats are arriving and departing daily. The Mississippi is free from ice as high up as Keokuk; but is falling. Navigation is, however, not interrupted. Boats for the South, with Western produce, are leaving every day with full freights. FLOUR is held at $5 50, which may be quoted as the ruling rate.

3. May 25, 1842 Daily Richmond Whig Richmond, VA
Article from Daily Richmond Whig, May 25, 1842

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, From the N. O. Bee, May 17. : THE CRISIS-THE FIRST DAY. I Yesterday morning. at nine o'c'ock. The Union, City, Louisiana, Carroliton, Commercial, Me I chanics' and Traders' and Canal Bank, opened their , doors under full resumption. The Consolidated , Bank, very unaccountably, withdrew from the arI rangement entered into on the Saturday before, by which it also had agreed to resume, and refused to throw open its vaults, alledging, as a reason for r such conduct, that the Citizens' and Louisiana State Banks had refused to undertake cash ments, would no. the and of that it, therefore, At paymeeting the Bank Presidents, of Saturday, at which resumption was agreed upon, the Citizens' , Bank was not represented, and the President of the ) State Bank refused to sanction the measure, as the Directors had not empowere.i him to decide, either , for or against resumption. The subsequent determination of those Banks, therefore, could scarcely ) be appealed to to justify the course of the Consoli) dated Bank Upon the opening of the Banks, a considerable run was made upon them by the holders of small sums. The excitement was increased materially by the refusal of the Consolidated, Citizens' and State Banks to join in cash payments, and until half past two o'clock. the calls for specie, at the Union, City, and Canal Bank, were constant. At the Mechanics' and Traders', Carrollton and Commercial there was some stir early in the morning; but it was not kept up for more than forty minutes; after which time the demand for coin abated, and to the expiration of banking hours few notes were presented for specie. The Union and City Banks were crowded with note holders until a later period; but before 3 0'clock, the demand for specie upon those institutions slackened off to such an extent, that there was not a man in either of them desirous of obtaining cash for his notes, unsatisfied. So far from any attempt being made to evade the full force and effect of resumption, the payir g tell. ers in the resuming banks were doubled and trebled, in order to detain note holders as little as possible. The banks "stood up to their fodder" like "Georgia majors," and made every exertion to pay out as fast as the notes were produced. The exact amount of coin taken from the vaults, we could not ascertain; but we were happy to remark a feeling of confidence gradually taking possession we noticed several of the under public mind, and persons, who, the previous excitement, had drawn specie, returning it to the banks, being perfectly satisfied to exchange it for the same notes they had so shortly before hurried over their counters for the coin. Had the Consolidated, State and Citizens' bank joined in the measure, there had been nothing left for us to regret; as it is, the resuming banks will, in our opinion, weather the crisis in fine style. The notes of the non resuming Banks are at a discount of course; and will continue to depreciate until they likewise resume. We have been furnished with the following statement of the specie drawn from the various Banks yesterday. The City Bank paid out $80,000 and received on deposite $15,000-loss $65,000. The Union Bank paid out about $50,000-Canal $25,000, Commercial $30,000, Carrotton about 2,000, Mechanics & Traders a trifling amount, and the Bank of Louisiana paid out $3,000 and received upon deposit $14.000-making in all a diminution of about $175,000 in the specie of the resuming banks. P. The Presidents of the resuming Banks have had a consultation, and are determined to go ahead. The best spirit prevailed amongst them, and they are convinced of their ability to sustain cash payments.

4. May 26, 1842 The New York Herald New York, NY
Article from The New York Herald, May 26, 1842

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MONEY MARKET. Wednesday, May 25-6 P. M. The transactions at the Stock Board were small to-day, but prices did not materially vary-Delaware and Hudson fell 1 per cent and Long Island 1; Mohawk d; Indiana 5'8 rose #; Harlem 1. Sales of bills on Philadelphia dis. count. The Secretary of the Treasury, who has recently been here on business relating to the government loan, seems to laboring under great embarrassment in the negotia. tion growing out of the intrigues of parties, determined upon obtaining the loan at as low a price as possible, regardless of every other consideration. It is always the casethat when a needy borrower comes into the market, his necessities being known, become the instrument of extortion. Unfortunately for the government it became necessary to expose its wants, in order to procure the passage of the loan bill. That exposure has prevented the negotiation of the loan. From what has transpired it ap. pears that a number of houses, headed by one, the malign influence of which has been felt in American aflairs on both sides of the Atlantic, made offers for a loan, of a character which could not be acceded to. The induence of these parties was then exerted to prevent success in any other quarters. It was then suggested that an agent should be sent to Europe to try the markets there. The New York American instantly proposed Franklin Haven, Esq who is President of a Bank in Boston, which has long been the agent of Baring Brothers. No such appointment will be made, however. It has been publicly stated that the loan has been taken, but we apprehend that all that has been done is an offer to advance the Secretary what money he may want for the present, without agreeing upon any price. The financial history of the State of New York is an instructive one to the federal government in the present crisis. The State, it is well known, labored for years under the pernicious influence of a Wall street clique.The inevitable result was, that the State credit was driven to rink of ruin. The State was always in want of money, and the terms on which it was procured were always dictated by the imperious brokers who affected to control every thing. During the past session, however, thraldom was broken up. The new Comptreller procured the passage of an ample revenue bill to fortify the State credit. He then came into the market on his own hook, and the result is that he procured $2,500,000 from the people, in spite of all the wire pulling of the baffled stockjobbers. Pursuing the same course, the City Comptroller obtained $1,000,000, and bids to the amount of $1,000,000 more were obliged to be set aside.This points out the way to the Secretary. He has offered his loan and it has not been-taken-one reason is, the conflicting movements of the brokers, and another is the unsettled state of the government revenues. In a few weeks probably the latter will be remedied. Let Congress then pass a law authorising an issue of deficiency" bills, reimbursable with the proceeds of the loan. These will give present means. The Secretary may then select a judicious agent for the home market or to go abroad, discarding entirely the malign influence of those houses, who have hitherto balled him, and the money may be got perhaps at a sufficient premium to cover all the expenses. The ruling rate of interest in Amsterdam and London is 21 per cent. It will be remembered that under date of May 6 we published dates from Liverpool to the 19th April stating the fact of the Holland minister issuing proposals for 7,000,000 florins, 5 per cent stock, received bids for 53,613,000 florins; consequently each applicant received but 12 per cent of his bid. A6 per cent loan under the same circumstances would be worth 20 per cent premium, and there is no doubt but that if the revenues are properly settled, the United States loan will readily command a premium. The Directors of the Ocmulgee Bank of Georgia have determined to resume specie payments. A Committee ap. pointed to examine the Bank of Columbus have of course reported in its favor-when was there ever a different result? The circulation is stated at $17,327; deposits $86,123; certificates issued $130,743. The Bowery Fire Insurance Company have declared a dividend of ten per cent, payable on the first of June. The New York Contributionship Fire Insurance Com: pany a semi-annual dividend of eight per cent, payable on the 6th of June. The Banks of NewOrleans made their attempt to resume on Monday the 16th inst. There are ten banks in all now in operation. Of these, seven paid specie in full and three refused. The following resumed :Commercial, Louisiana, City, Canal, Union, Carrollton, Mechanics & Traders. The following refused to pay-The State Bank, Citizens Bank and the Consolidated. A small run for coin was sustained when the banks first opened; this soon subsided and part of the specie returned to the banks. Thedelinquent banks of course must pay or cease to do business. There can be no alternative. The Board of Directors of the State Bank of Indiana, at their quarterly session last week, fixed the fifteenth day of June next for the resumption of specie payment, in all the branches. This is the day fixed by the Illinois Bank and the Kentucky Banks. The Ohio Banks are already paying specie, and those of New Orleans having made the attempt, the coming mouth will witness the restoration of the currency in the Western States. The following are the leading features of those Banks that are abou

5. May 26, 1842 The Daily Madisonian Washington, DC
Article from The Daily Madisonian, May 26, 1842

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HURRA FOR A SOUND CURRENCY Yesterday's sun rose brighter than usual, and looked down upon the broad lands of Louisiana with a smile that gladdened the hearts of all good citizens, and men were observed to move upon the dull earth with lightsome step and heads erect. be reYesterday was a memorable day. It will ferred to hereafter as the epoch of " honesty" returned to Louisiana after a five years' absence. Seven out of the ten surviving banks made a grand effort aad paid their obligations in the legal money of the Republic. It was a remarkable day, too, for the signal piece of treachery to sacred promises on the part of the State ank Consolidated Banks. These institutions solemnly agreed on Saturday last to pay coin yesterday, but the directors reconsidered that promise, and refused to come up to the rack." two Nothing daunted by the desertion of these George Stanleys, on the morning of the battle the City, Commercial, Union, Mechanics' Carrollton, Canal, Louisiana Banks marched out in solid column, and opened their vaults to their creditors. Had the three Banks down town, now known by the significant title of the 'State of Consolidated Citizens, done their duty to the public, resumption of specie payments would have passed of as an ordinary occurrence. But it proved otherWise, not in consequence of any doubt on the part of the holder of notes, but in consequence of a scheme said to be set on foot by the State of Consolidated Citizens, which paid out the notes of the resuming institutions to an army of Faithfuls to go up and draw the cash, for the purpose of replenishing the vaults of the said "State, &c The appearance of these gentlemen in such numbers alarmed, temporarily, the unwary, and the crowd in the Union, City, and Canal Banks increased up one o'clock, when people having got wind of the "movement" of the "State, &c., fell off and for two hours thereafter great indignation was expressed by the bystanders and the citizens generally. The main point of attack was upon the City Bank, whose President is regarded with especial horror by "State of Consolidated Citizens." The common talk among those citizens was, Ah, ah, we have got damne. Yankees on the hip at last. The Citizens' Bank will give Peters hell to-day, the Consolidated will follow to-morrow, and on the third day the State will close his weer with a "sockdologer.' This is evidently the feeling at the bottom of this whole affair, but It has failed, and will fail most miserably. The Seven Banks will pay their debts, let come hat may The people are with them, heart and hand. Au early hour, the notes of the "State of Consolidated Citizens" were offered in the streets and in the brokers' offices, at all sorts of discounts. Actual were made as follows Citizen's Bank notes, 10 to 18 per cent. discount. Consoididated " 10 to 18 State 101515 They are tendi downwards, and it three clock yesterday, they were regarded with great suspicion. is The Citizens' Bank committed gross violation law in paying out Third Municipality Shinpiasters yesterday, at her counters, in exchange for her own notes. This was th game played by the Burstups, when they were driven to the wall. They say that the Citizens' paid out $40,000 of this trash in the course of the day, and " is now known by the name of Citizens Bank currency. The State Bank did large business. She paid her notes under five do lara in coin. It was a disgrace to see S wealthy a conc rn palter in a double serise. and treat the public so scurvily The Consolidated threw herself upon her reserved rights, and refused to redeem her notes in anything. She considered them as good as wheat, though the holders did not, as the above table will show. Considerable quantities of specie, drawn out of the coin paying Banks, by the inhabiants of the region of "les trois Banques," were deposited, it is said, in those institutions, on special deposite. The notes of the "State of Cons ls. and Citiz ns, were repudiated by the seven specie-paying Bank and refused in payment of debts On a comparison of the best information out dorrs, it appears that some $150,000 in coin were paid out by the seven Banks, but chiefly by the Union and City, at which a dead set seemed to be made. But what are $150,000 to these institutions? They can and will pay out if called on. ten times that amount They stand on the rock of truth and honesty, and not all the enemies of a sound currency in the world can overthrow them. The amount of coin received on deposit by the seven Banks, we learn, reached $100,000. two days more, the deposits will exceed all that has been paid out. Public confidence is with the-seven Banks, and in their march they will not leave a vestige of irredeemable paper behind them. The Courier of last evening (French side) asserts that " confidence is the basis of human affairs." To be sure it is, but Banking affairs must rest upon the basis of coin, before confidence in them can exist.No talk, no argument will sustain the " Trois Banques" against Banks which pay their debts in coin. The Plaquemine Gazette gives the alarm against Consolidated notes. It says that that section of the State is flooded with this paper, and remarks that an enormous flight of Exchange and Atchafalaya Bank iper preceded the destruction of those institutions. The seven Banks paid out coin yesterday with the utmost alacrity and promptitude. No let or hindrance was made to bill-holders and depositors, but all were immediately accommodated. This is the way. Men or Banks who can pay their debts, have nothing to fear, and the seven Banks are fortunately in this category. Immense quantities of sight Exchange were sold yesterday, on New York, at par to one per cent. premium. To people, abroad, we have but one word to say, and we think we have a right to say it, for we have been alone in our advocacy for resumption in this city, and gave warning always, where there was danger. Our word is Stand by the seven specie-paying Banks of New Orleans. if you doubt them, try them, and they will dissipate all doubt, by paying you what they owe you. They resolved to pay, they can pay, let come what may If the three repudiated Banks, the C. C. S. do not c ome in. their notes will be at 30 per cent. discount in a week's time. Trade has already felt the benign influences of resumption. People breathe.freer. Confidence has returned. The People of New Orleans have sworn eternal enmity to irredeemable paper currency, and they will foster the seven honest coin-paying Banks, and the law and public opinion will prevent them from ever suspending again.' Hurrah, then, for a sound currency

6. May 27, 1842 Richmond Enquirer Richmond, VA
Article from Richmond Enquirer, May 27, 1842

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19th Resumpts the 17th, 18th, connect and interesting On the Banks of Orleans papers, accounts of of the of events that city. resumption "a 17th May, run the day of was the resumption, made upon was them (the increased by the materially holders and State sums of the The excitement wa Consolidated, and Citizens', until half past and two refusal in cash payments, at The Union, City, and calls for specie, At the Mechanics some Bank the were constant. and Commercial there not was kept up Carrollton, the morning: but after it was which time the hours de and than in forty at minutes: the expiration of The bonding City Bank loss and Caabout abated. presented for on specie. deposite $15,000 $50,000; Commercial a trifling and Traders The Union Bank 30,000; paid Carrollton out amount, about and 2.000; the and out upon received $3,000, paid of a all about in diminution the banks. resuming the go ahead. the resuming specie of banks, held a consultaand was passed, State ausolidated (the complete. 19th) the crisis At 12 clock, Banks on open- the is now not "There Bee says, for cash the The city that known does that not the pay three inconside non When begun was cash payments, the excitement an of time. banks had made upon them; bat No more specie of the one With that Now not drawn. length required by the or two business wo solitary exceptions, the banks in coin obligations fixed the period aid and will meet forward were to redeem their by law- we have support reason ithevery a equal currency been It therefor. valued they The State acquired has at 2 now high sacrifice, obsolutely and this to enjoy her continue citizens and all panic have emselves Let of their discourage institution as business they will of the The Presidents their monetary worthy of faith, Banks and that resumed The citizens good spirits. all and envies jealousies. We that trust, disappear the of ouncing will 11th the pleasure The Bank Convention intimated that 1st the August. in Virginia. already it is Exchange "the At WheelBaltimore the and discount, papers cent. Banks discount per Virginia of Henrico Society Harticultural Quar Bacon Wednesday and and Fair It place was at one of the witness- most scenes interesting the which Associa the least the was better and brilliant, The Company was the largest, among them, part not of the Crethe of the whole into spirit from mean, admirable The ladies of course, the opening address prayer by read Mr. Mr Turner-the the were Rev Mr Reports Norwood of the the Premium fruits Committees and the worst flowshibitedthe President, that of the Ladies-an works hop from the needles produced from pronounced the by the cutlery of that this city, was that was manufactured in various Ame from Mr Barnes equal to any There were also the manu Mr Foreign artists.) implements of various descrip the varieties which, agricultural Palmer-and stock and qualities of the subs Lamong wound most conspicuous. up by cheap, Turner but presided; very domes nothing which capital Mr. cider, and the Gaiety and no the over and vicinity of Richmond. there was The toasts speeches patriotic and we about left catching that table, man without the on great from his neighbor, We had which together brought a more heard finer spirit exhibitedthe on and to speed expressed, at details further and publish of SOON the enthusiasm have no room Mr. Garnett's for as Address, possible. CommitteesRHODE ISLAND. the from on country, return night Tuesday we find the for had been week, agitation abated Rhode considerably cuestion Island the once upon than vere more over without bloodshed is out some called parties yet the scene has passed The troops mystery of the There that of transactions the under impres the Suffiage The Suffrage the party had induced Gov all Dorr resort to of calling the Charter party volunteers to abandon Convendethe and by solemn basis promises of suffrage, correcting of yielding to the enlarging the Government, Island But there men of present the People whether of Rhode some designing whe people. imposed serious doubts, upon the Suffrage has not Party been induced We has we.gatheret the two during which even Mr. Sheriff deceive Anthony and to betray laid very the copious last detranspired we our the from Herald Providence From 21.) May Herald. Procidence were and Tuesday Wednesday no shed was blood out, turned as have these, makWhile was every preparation such and while deadly conflict, accom side sides almost for inevitable, came from proposition to of Mr the that few :emost positive men on the Landholders if he would settled but retire ho assuring days, him, every thing What this should proposition be positive was, we grances both:parties learn that the most into effect be On know; but given we should honorable be carried to Mr Wednesday Dorran onner friends-this which should was on Tuesday planted around Mr had Dorr de to emained torning 8 cannon had been by brave men and who no doubt it. The from cannon artets, and stand manned by him to the Landholders death, party some had them hold received have done several pieces accession of of men to make man the ar towns prepared, and an understand, to We preparations believe, Mr. Dorr,a we whatever learn, that these of his ow his unwilling be should on shed account. least what that the blood He there of of both parfriends he After Mr. had Anthony retired, he did so the why troops, reasons stating and the would low cease, difficulties to the manner party Suffrage honorable so, be and the should great the What left and satisfied ground. have informal Mr of the house approached tired, had Dorr they generally in affair know Thus about an troops hour known after Mr. in the terminated -why for not "drawn battle, of both parties; agreement that was blood spilt. libe "No one against contends the extension op _and earliest to after record suffrage lighment of be should made. "IL liberal (at that such an what do you conceive think- it quite 80 li. pray, Mr. Many Journal, of your least party they have hitherto

7. June 10, 1842 Holly Springs Gazette Holly Springs, MS
Article from Holly Springs Gazette, June 10, 1842

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NE 10, 1842. VOLUME 1---NUMBER 46. From the Kennebeck Journal. THE Banks.-On Sunday morning we announced the PASS ROUND unanimous opinion of the Banks, with one solitary exception, to resume specie payments yesterday, and even that bank had The true Whig, published at Washington, reminds its not given a direct negative to the question of recumption-she readers and the public that in the two years previous to Gen. was merely not represented at the meeting, at which it was Jackson's war on our currency system, the number of tanks agreed ou. We hailed the announcement as le commencecreated was 22, with a capital of $8,000,0000: that in the ment of a new and a better era; we thought it would be the next two years the number of banks created was 268, with signal for the restoration of confidence--the prelude to the $368,000,000; that the former banks were generally sound, the that improveme of business-the harbinger of Leaer trade and and the latter have generally better times. Bu: what was our astonishmen: to find, yesterLoco Focos are now breaking down the very currency they day morning, that of the nine banks which had resolved to regave us, bad as it is, and are fast reducing us to the condition sume the payment of specie, two of them, the Consolidated of no currency at all. Bank and the Louisiana State Bank, withdrew from their reAnd pass it round, we add, that by the reports of the Secresolve, and in common with the Citizens Bank refused to pay tary of the Treasury, it appears that the bank bills in circuspecie on the opening of their doors yesterday morning. lation in the whole Union. in 1816, amounts to This circumstance, and the reports so industriously circu$68,000,000. lated by interested individuals, of the solvent condition of this This was before the charter of the second U. S. Bank, and institution and the bankrupt condition of that, created quite a when we had been without a National Bank for four years. panic among our community, and every one, from the holder The charter of that Bank wasthen granted, with a capital of of a V to him who had thousands placed to his credit in certain of the banks, seemed eager to convert it into the precious thirty five millions of dollars. Did expension follow? Oh metal. The consequence of this feeling was, tha: the seven no-very far from it. Fourteen years afterwards, or in banks that commenced the good work of resumption, had 1830, the whole amount of bank paper in circulation, from what is called in technical phrase, a run on them all day. all the banks, was They withstood it nobly. All hands were called to attend $61,323 898, to the desires of claimants; indeed, the wish seemed to be with being a decrease in fourteen years, while the U. S. Bank was them, not how little, but how much they could reekon and in operation, of nearly seven millions. pay out. As sheer justice to them, we will here give their Well, what next? The President vetoed a bill to re-charter names. They are-The Bank of Louisiana, The Union the Bank in 1832, and then what followed! In 1837, the Bank, The Canal Bank, The Mechanics and Traders Bank, bank paper in circulation had increased to The Carrolton Bank, The City Bank, The Commercial $149,185,890. Bank -N. O. Picayune of 24th May, 1842.

8. June 13, 1842 The New York Herald New York, NY
Article from The New York Herald, June 13, 1842

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BY THE SOUTHERN MAIL. OCT The Southern Mail had not arrived at the time of our going to press. LATEST FROM NEW ORLEANS-PROGRESS OF THE REVULSION.-Our accounts last evening came down to the 4th inst. The confusion, paralysis, and com mercial fright, was beyond all precedent. The following are extracts:NEW ORLEANS, JUNE 1.-The specie paying banks sustained themselves well yesterday-indeed there was no run upon any but the Union, and that was a slight one. Our citizens seem to have become convinced that the banks that have held out thus far are sound, and no depositors were disposed to draw out specie further than their business wants required. The consequence was, that no run was made yesterday, and the five specie banks remained sound and undisturbed. Should these five institutions prove themselves able to maintain their specie paying stand, our city would be able to boast that pecie was the standard of some of her banks, even if the same banks had no promises to pay affoat? The Union Bank is now believed to be established in her specie-paying position. For the honor of our city it is hoped that she and the other four banks will hold out the hard money flag-though we the people must suffer greatly from being driven to the use of a currency (the only one obtainable for daily use) greatly below par.-Bulletin. REMARKS ON THE MARKET FOR THE LAST THREE DAYS.-Once again is our currency thrown into chaos, and trade may be said to be almost completely paralysed in consequence. In our last Wednesday's report we noticed the suspension of specie payments by the Citizen's and Louisiana State Banks, but strong hopes were entertained that all the others would maintain their position. These hopes, however, have been disappointed. A panic seemed to have seized upon both billholders and depositors, and on Wednesday and Thursday four others, viz : the Consolidated, Canal, Commercial, and City, declared another suspension. The banks which still maintain their payments in specie are the Union, Mechanics and Traders, Bank of Louisiana and Carrollton. We have thus emphatically and literally a "mixed currency," and prices of merchandize partake so much of a similar variety that we find it almost impossible to arrive at correct quotations until matters become more settled. -N. O. Price Current. GEORGIA GOLD MINES.-The Milledgeville Journal states that persons who follow the pursuit of digging for gold in that vicinity, have of late been much stimulated in their labor in consequence of the handsome profits they have in many instances realized. It is said that in the neighborhood of Dahlonga, there are from fifteen hundred to two thousand pennyweights found daily. At one mine, on Battle Branch, there was lately found one lump worth, it is said, one hundred and twenty-eight dollars. It is supposed, from present prospects, that there will be at least from $300,000 to $400,000 realized in that section from the pursuit within the present year. The late success in this business is drawing the attention of many others to it.

9. June 13, 1842 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, June 13, 1842

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Iaised Bills are will We quote disc. Apalachicola 11 a Philadelphia Mobile 25 a 251 Baltimore par a 24 a 27 251 a 2. Montgomery Virginia Tuscaloosa 2/a 3 25) a 26 N Carolina - a New.Orleaus 1:a 1. Charleston 12 a 13 Nashville 12 a 2 Savannah Lonisville 2) a 21 13 a 2 Augusta 9 2 10 St. Lou 20 a 221 Columbus 20 Cinclunati 3) a 4 Macon There is some inquiry for Treasury Notes for investment, at par and t premi. A dividend of five per cent. will be paid by the Auburn and Rochester Railroad on the 1st proximo. We understand that arrangements have been made to redeem the notes of the broken James Bank on and after the 15th instant at par. The Etna fire Insurance Company have declared a div. idend of eight per cent. The attempt to resume specie payments in New-Orleaus has virtually exploded. In consequence of the hesitation of the Citizens', State and Consolidated Banks to resume on the day the other Banks resumed, confidence was impaired. and a run was kept up. The consequence was the suspension of the Consolidated. State and Citizens'. followed by the City, Commercial and Canal Banks, until 5th December next, the day fixed by the law. The Banks which pay spe. cie are the Mechanics and Traders', Carrolton, Union and Bank of Louisiana. On the Union there had been a runThe City Bank lost $160,000 Specie in one day. Therewas a most intense panic prevailing, and such were the crowds in the banking rooms that several persons fainted, and two were reported to have died. The following was the state of three of the banks on Saturday, May 28: Circulation. Specie. $294,245 $112,554 Citizens' Bank 419,390 170,025 Consolidated Bank 387,645 227,527 State Bank $1,101,280 $510,106 There are due to the three Banks, payable within 90 days, nearly a million dollars: $144,729.57 Citizens' Bank 136,355 24 Connsolidated 325,029 95 Louisiana State Bank $906,114.76 The above six banks suspended on the 30th of May and 1st of June. The v-Orleans Bulletin of the 3d instant

10. June 16, 1842 The New York Herald New York, NY
Article from The New York Herald, June 16, 1842

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NEW ORLEANS BANKS. FAILED. SPECIE Pay'a. Liab. Assets Liab. Cash assets. 555,419 Ble of La. 746,428 181,397 Camal, 390,419 119,247 Citizens. 32,091 Carrolton 1,036,976 1,517,941 1.312,113 Commer'l 850,115 471,992 812,992 City, 414,101 T. Mech. & Consol'd 426,609 963,595 450,635 1,482,721 1,383,292 Union, 1,039,156 State Bank, 534,577 $3,338,528 3,883,658 4,753,623 Total, $2,725,577 The suspension of these banks will have a powerful in. fluence upon the state of afTairs west. Two of the failed banks, the Citizens and Consolidated, are based upon the State bonds to the amount of $10,000,000, and the London holders of those bonds may be obliged to take slaves for them. At Mobile the situation of the currency is disastrous in the extreme. The premium on specie being 30 per cent. The merchants of that place resolved some time since to receive the depreciated bank currency only for its specie value. This resolution has recently been re newed, and was to have gone into operation on the 1st instant. It will probably produce a great effect in compelling the banks of that section to liquidate or resume. This revolution in the western currency, with the severe contraction of the specie paying banks in the interior has caused the utmost difficulty in procuring remittances from those sections. Hence it is that the spring trade has been exceedingly small, and great numbers of failures have taken place among the merchants more particularly in the dry good line; but some heavy grocers have also gone down. With banks and capitalists money has been exceedingly plenty, arising from the gradual liquidation of old city accounts, and the small demand for money for business purposes. This has caused a demand for sound stocks and a consequent improvement] in prices, notwithstanding the untoward events that are progressing in the more indebted States. The following is a comparative table of prices PRICES OF LEADING STOCKS IN THE NEW YORK MARKET

11. August 19, 1842 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, August 19, 1842

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MONEY MARKET. sales at the stock Exchange, Aug. 18. 17 150 do bS0d 51A 25 Farmers' Loan $30d 51 100 25 do 25 Planters' Bk Ten 511 50 do cash 11 50 Harlem 514 50 do b80d 511 50 Long Island R bood 514 50 do SECOND BOARD. $60.51 109 shares Long Island Commercial and Money Matters. THURSDAY M. The sales to-day at the Stock Board were almost exclusively of Long Island, which left off at 511, a decline of i per cent. Harlem sold at 141, also a slight decline. For Delaware and Hudson 87 was offered; 87} asked; Mobawk 37 offered, 371 asked; Delaware is looking up. We understand that a large portion of Mr. Watt's purchases were legal, the sellers having the stock on hand at the time of selling, and that Chancery proceedings have been or will be commenced to compel the performance of his engagements. One parcel of 1000 shares bought by him at 30 in the street is in this situation. It is supposed that at least 6,000 shares were thus bought legally and for which Mr. Watt is liable. The demand for State stocks was fair to-day and the rates firm. Ohio is recovering slowly from the partial panic produced by the anticipated new issue. State Sevens sold at mt a 1/2 premium. Ohio Sixes improved 2 per cent. Indiana Bonds For Government Sixes. 1844. 100 asked-1862 992 offered, 101} asked; State Sixes, 1860, 891, 90-61s. 1860, 821. 83-Fives, 1851, 801 offered-1858, 304 offered-1860, 75 off:1861, 75 offered, 80 asked; Ohio Sixes, 1850, 71, 751-1860, 75 75}; City Sevens, 1852, 3 prem offered-Fives, 1850, 80 ofl1870, 80. 82-1868, 81 asked. The transactions were as follows: 70 $1,000 do 1003 $1,500 N. Y.7-,1849 17 100A 15,060 III 6s, 1870 $2,000 do do 560d 174 $5,000 do $1,000 Ohio 6s, 1860 600 67 20 69 do $2,000 Indiana 5s $1,000 do Foreign Exchanges are quiet. Sterling 6127 per cent. Francs 5.35. Nothing new in Inland bills. Alabama is slightly better. Georgia heavy. The Manhattan Gas Light Co. has declared a dividend of Three per cent, payable on the 1st Sept. Nothing new in specie. At Rochester the Banks are beginning to discount produce paper pretty treely for the purpose of buying the new Wheat erop. Counterfeit Dimes and Mexican Dollars are very plentiful in Cincinnati. The sales at the Philadelphia Board were not large, although to a greater extent than for some days past. 95 $300 City Fives, 1864 614 $1000 Tennessee Five per cent 361 $300 Pennsylvania Fives, 187 21 6'shares U S Bank The Nashville Banner of the 8th inst. quotes exchange on New-York, Pbiladelphia and Baltimore, at 1 a 21 per cent premium. The citizens of Vigo County, Indiana, had the question submitted to them at the late election whether they were willing to receive State scrip for County dues. It was decided in the affirmative by a vote of 1964 to 37. The Sentinel says this is a good move. At Mobile the tendency of exchange has been downward, and the transactions have been light. The Bank of Mobile is checking on New-York at 56 per cent, premium, and specie is selling at 55 a 57. Some of the checks of the Montgomery Branch Bank have made their appearance, and sales have been made at 55 per cent premium. The demand continues light, and the supply of exchange, as well as specie, limited. Business of all kinds is at a stand, and never duller. The following are the rates of the suspended Bank notes at New-Orleans: Canal S5 a S7 dist, dull; Commercial 20 a 25, Consolidated 32 a 35; Citizens 41 a 44; Carrollton 20 a 25; City 25 a 87; Mechanics' and Traders' 41 a 71, demand; State 16 a 18; Union 10 a 13; Atchalafaya 80 a 35; Exchange 63 a 64; Improvement 60 a 65; Bank Orleans 70 a 72; Bank Louisiana and Gas Light, par. American Gold 11 a 21 premium; Sterling Exchange 2 a S prem. Francs 5.55 a 5.55. 60 days on New-York 2 a 3-sight 1 a 11; Treasury notes 1 2 prem.

12. August 24, 1842 The New York Herald New York, NY
Article from The New York Herald, August 24, 1842

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MONEY MARKET. Tuesday, August 23-6 P. Thesales at the Board were very moderate to-day. Pri. ces were, however, generally better. Illinois 6's rose Farmers' Loan 1; Harlem Delaware and Hudson fell It is stated that the Arkansas commissioners were recently here, authorised to pay the interest on the bonds of the State Bank, but returned without paying it, in order to depress the value of the bonds in the market. The bank is stated to have $91,000 specie now in its vaults. The holders of the bonds and coupons should immediately send them to Little Rock, and sue the bank, they being all signed by its cashier. What are the assignees of the Bellville Bank at Trenton about, and why do they not make a dividend? When they came into possession, the directors offered to give a good and sufficient bond for the payment of the circula. tion, the assets being thought more than sufficient for that purpose. At Mobile there has been some improvement in the local currency. It is at 55 per cent discount for specie.One of the street on dits is, that the Branch Bank will soon follow the example of the Montgomery Branch, and check on New York for forty dollars on the hundred of her is. sues, at 10 per cent premium. At New Orleans on the 13th, there had been considera. ble improvement in several descriptions of notes of the suspended banks. Union tolerably steady at 11 a 13 discount. State 14 a 16, with symptoms of improvement.Sales of Canal at 29 a 30 discount. Sales of Commercial at 18 discount-looking up. Carrollton nearly nominal. Mechanics' and Traders' very scarce, but seldom called for. Consolidater fluctuating. Citizens' declining. Of the banks in liquidation, Exchange, Improvement, and Orleans, are on the rise; Atchafalaya without demand. One of the greatest curiosities of this curious financial age, is without doubt the Baltimore American Life and Trust Company. The development of the assets of that company has astounded even those who were a little familiar with the United States Bank affairs, as well as the the North American Trust and Banking Company, the Manhattan Bank, and numerous others. Here is a company started in 1833, with a capital of $1,000,000, subsequently increased to $2,000,000, that at the expiration of nine short years, not only presents an account showing that capital to have been entirely sunk, but several millions of their bonds issued to London capitalists, and the money thus procured not only loaned to speculators on its own stock, but also on the most worthless real estate bubbles.The following is a list of the directors who sanctioned, positively by assent, or negatively by neglect of their business, this outrageous squandering of the property of others:OFFICERS AND DIRECTORS OF THE AMERICAN LIFE AND TRUST COMPANY.

13. August 26, 1842 The Yazoo Whig and Political Register Yazoo City, MS
Article from The Yazoo Whig and Political Register, August 26, 1842

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Bank Note Table, Corrected Weekly, NEW-ORLEANS MONEY MARKET. Adapted for Yasoo City Market. Gas Light and Banking Company, par. Bank of Louisiana, par. SUSPENDED BANKS. 25 dis. City Bank of New Orleans, 8 Mechanics and Traders', " Union Bank, 12 " 18 State Bank, " 30 Canal Bank, " 20 Commercial Bank, " Consolidated Bank 35 u 25 Carrollton Bank, " 45 Citizens' Bank, REPUDIATED BANKS, Exchange Bank, 25 c per dol. 30 c dob Improvement do. 25 c Bank of Orleans, 15 c do. Atchafalaya, Blue Backs, 60 to 55 pr d. MUNICIPALITY NOTES. Municipality No. 1, 8 pr ct. dis. " 8 No. 2, sb No. 3 50 40 Alabama, n 8 Tennessee, South Carolina, par. Kentucky, par.

14. September 5, 1842 New-York Daily Tribune New York, NY
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MONEY MARKET. Sales at the Stock Exchange, Sapt. 3. 19 b60d 25 Del. & Hud $30d 843 100 Farmers' Loan 75 do $30d 85 s30 39 100 Mohawk R 50 do cash 86 -40d 382 25 do 58 cas 51 25 Mechanics Bank 100 L. Island $60d 16 75 60 Bk of State NY 50 Stonington R 60 50 do 161 90 Mechanics' BKg Asso. 85 60 15 Amer Ex Bk 50 Firemen's Ins. Co 611 50 Manhattan Gas cash 19 45 Farmers' Loan 10 183 do SECOND BOARD. 15 19 150 Harlem 60 Farmers' Loan 143 100 do 50 Harlem 14 b3d 15 15 50 da 50 do Commercial and Money Managers. SATURDAY P, M. The transactions at the Stock Board were not to any great extent, but generally at advanced rates. The advices per Caledonia were considered favorable and calculated to prcduce this effect. Del. and Hudson improved + per cent, Mechanics Bank 1, Mechanics Banking Association a further advance of 2 per cent, Farmers' Loan 1, Stonington 1, Harlem 1. State Stecks were firm. City 7's sold at 102, and after the board considerable amounts of both State and City 7's sold at 2 per cent arem. For Ohio 6's 1869, 74 offered: Kentucky 5's 60 offered; State 6's 1862,91 offered; 5's 1858, 33 offered; Arkansas 20 offered Alabama 50 offered ; Michigan 18 offere Pennsylvania 20 offered. 182 241 $1,000 Illinois 63, 1870 $12,000 N.Y 51, 1861 78 21 $5,000 Indiana cs $5,000 K'ky Sixes, 560d 19 $5,000 III 6s, 1879 No change in Foreign or Inland bills- and very little doing. We learn from a private letter from London, that Mr. Robinson our financial agent, who went out to negotiate the 12 million loan, had left London for Antwerp on his way to Amsterdam. English capitalists would have nothing to say to him, and no better prospect existed for the negotiation on the continent. The amount of Treasury Notes outstanding on the 1st inst. was $8,771,999,99, being about $132,000 less than last month. At a meeting of the Directors of the Merchants' Ex. change Bank, James Van Nostrand, Esq., was this morning o elected President, vice Peter Stagg, deceased. Some surprise having been felt at a discrepancy between the dates and numbers of the Banks of the State of Kentucky, that is that bonds of 2 certain date should be numbered higher than bonds of a later date, the Secretary of Kentucky has published a statement He explains that some bonds regularly numbered but not dated, were deposited in the Northern Bank: one of there bonds were paid cut and dated at the time of payment by the Cashier. This has created the discrepancy. From 2 communication in the Albany Argus the Safety Fund appears to be in better condition than was anticipated. Twenty-two banks have availed themselves of the law allowing them to pay in six years contributions in one sum. in broken bank notes at par. They have paid in $200,060 and other large banks are preparing to do the same. It also appears that the Fund will get material lief from amounts to be repaid by the Commercial Bank, ($181,781) the Lafayette, Clinton, Watervliet, Lewis County, Commercial Bank, Oswego, &c. Holders of sespended bank notes, it is supposed, may look for a much earlier redemption than was supposed six months ago. All the banks of Lancaster, including that of the Columbia Bridge, resumed payment of specie for all their notes and deposites, on the first instant, agreeably to their previous arrangements. The approach of resumption in Virginia, (15th inst.) has reduced the rates of discount between Baltimore and Richmond, to 1 percent on drafts and 11 on bank notes. Wheeling notes 41 a 5. At Wheeling exchange OR the East was S per cent prem. At Charleston there was very little doing in exchange, and sight checks OR New-York were very scarce. 60 day bills were selling at cent discount. A mutual Insurance Company is being formed at Charleston. Specie continues to flow to New-Orleans from all quar ters. In addition to $200,000 to $800,000 from New-York, Vera Cruz, Cincinnati, Sc. $16,000 have been received from Martinique. The suit of the State of Louisiana against the Commermercial, Canal, Citizens' and Consolidated Banks for a forfeiture of their charters came on on the 26th ult. before the District Court. The counsel of the two first banks produced evidence to show that they had placed themselves within the limits of the Bank Law, by having in their vaults an amount of specie equal to one-third of their cir culation. The suitagainst them was consequently dropped. The case of the Citizens' Bank will be argued on the 2d September, and that of the Consolidated Bank on the Monday following. The rates of suspended bank notes at New-Orleans were in some few instances getting better. Exchange was scarce and rates tending upward. Sterling 4 prem. Francs 5,50; sight New-York, par to 3 per cent discount; 50 days 2 a 21 discount. American gold plenty and dull. Treasury Notes scarce, selling at 1/4 1 discount. The Canal Bank received $70,000 in specie on the 26th. The Consolidated Bank has also obtained specie enough to arrest the operation of the law.

15. February 23, 1843 Port-Gibson Herald Port Gibson, MS
Article from Port-Gibson Herald, February 23, 1843

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Postscript. We learn by a gentleman direct from New Orleans that the Commercial Bank of that city, has again suspended specie payments. Great excitement prevails. A rush was made on all the other banks.

16. March 2, 1843 The Democratic Whig Columbus, MS
Article from The Democratic Whig, March 2, 1843

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To the Editor of the Democratic Whig. MORILE, Feb. 18th. 1843. Dear sir: When we closed our respects of the 4th inst., advices were just received from England, calculated to give increased firmness to our cotton market: the state of the currency was, however' of so much greater importance to both buyers and sellers, that but little attention was paid to them. At that time Exchange and specie were at 40 a 45 per. ct. prem., but during the ensting week declined rapidly to 15 a 20 per ct;; and the advance then noted in Cotton was not only cost, but the resolutions of the Merchants, to do business only on a specie basis, were, in consequence, defeated, and Alabama money continues to be the only currency used. Exchange and specie have again advanced the present week, and now stand at 25 a 27 per. ct. on N. York, 30 a 32 on N. Orleans, and 30 a 33 for specie, but they fluctuate daily. Holders of cotton generally advance then prices in conformity, and an improvement of 1-2 ct. is realized on the rates of this day week. It is difficult to give quotations, but sales range from 51-2 to 8 cts. and are generally from 6 to 7. Freights to Liverpool have declined a shade, and several ships are taken up which will tend to support the price and demand for cotton. We are respectfully, your friends, BULL & FILES. MOBILE, Feb. 21, 1843. Dear Sir: W e are informed by letters to day thet the Commercial Bank of New Or. leans suspended specie payment yesterday; there Was of course great excitement in that City, and a run upon all the other Banks. Resepectfully. your obedient servis., BULL & FILES.

17. March 2, 1843 The Democratic Whig Columbus, MS
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To the Editor of the Democratic Whig. MORILE, Feb. 18th. 1843. Dear sir: When we closed our respects of the 4th inst., advices were just received from England, calculated to give increased firmness to our cotton market: the state of the currency was however' of so much greater importance to both buyers and sellers, that but little attention was paid to them. At that time Exchange and specie were at 40 a 45 per. ct. prem., but during the ensuing week declined rapidly to 15 a 20 per ct.; and the advance then noted in Cotton was not only lost, but the resolutions of the Merchants, to do business only on a specie basis, were, in consequence, defeated, and Alabama money continues to be the only currency used. Exchange and specie have again advanced the present week, and now stand at 25 a 27 per. ct. on N. York, 30 a 32 on N. Orleans, and 30 a 33 for specie, but they fluctuate daily. Holders of cotton generally advance then prices in conformity, and an improvement of 1-2 ct. is realized on the rates of this day week. It is difficult to give quotations, but sales range from 51.2 to 8 cts. and are generally from 6 to 7. Freights to Liverpool have declined a shade, and several ships are taken up which will tend to support the price and demand for cotton. We are respectfully, your friends, BULL & FILES. MOBILE, Feb. 21, 1843. Dear Sir: We are informed by letters to day thet the Commercial Bank of New Orleans suspended specie payment yesterday; there Was of course great excitement in thai City, and a run upon all the other Banks. Resepectfully. your obedient servts., BULL & FILES.

18. March 4, 1843 Louisville Messenger Louisville, MS
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Mobile Feb. 21, 1843. Dear Sir:-We are informed by letters to-day that the Commercial Bank of New Orleans, suspended specie payment yesterday; there was of course great excitement in that city and a run upon all the Banks. Yours &c.

19. March 11, 1843 The Radical Bowling Green, MO
Article from The Radical, March 11, 1843

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The Commercial Bank of New Or beans has gone into liquidation. The Tropic of the 21st ult. savs there was a slight run, the day previous, on the other banks, attended however, with no disastrous effects.