State Bank of Louisiana - New Orleans, LA

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: May 31, 1842
Location: New Orleans, Louisiana (29.955, -90.075)

Metadata

Model: gpt-5-mini
Short Digest: 9e64d839

Response Measures

None

Description

Article (dated 1842-06-17) reports the State Bank of Louisiana officially announced it will not redeem notes in coin until Dec 5 (per legislature). This is a suspension of specie payments tied to legislative resumption date; no run on this specific bank is reported in the excerpt. Reopening is implied by the fixed resumption date, so classified as suspension_reopening.

Events (1)

1. May 31, 1842 Suspension

Cause: Government Action
Cause Details: Bank suspended specie payments until the date named by the Legislature for resumption (Dec 5); suspension linked to legislative timetable.
Newspaper Excerpt: the State Bank of Louisiana and Citizens Bank have officially announced, in the morning papers, that they will not redeem any more of their notes in coin till the 5th December next
Source: newspapers

Newspaper Articles (1)

1. June 17, 1842 Carroll Free Press Carrollton, OH

Article from Carroll Free Press, June 17, 1842

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Article Text

NEW OLLEANS BANKS-MORE SUSPENSION. We have advices from New Orleans, per steamer Mazeppa, to the 31st ult. It will be seen from the following ex. tract of a letter received by a Commis sion House. of our city, that the State Bank of Louisiana and the Citizens Bank, have again suspended:- Louis. ville paper. "We have to inform you that the State Bank of Louisiana and Citizens Bank have officially announced, in the morning papers, that they will not re. deem any more of their notes in coin till the 5th December next-the time named by the Legislature for resumption. This has caused no small excite ment. and their refusal will, no doubt, occasion a severe run upon the other Banks; but the general belief is that they will get through."