banks of New Orleans - New Orleans, LA

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: June 11, 1842
Location: New Orleans, Louisiana (29.955, -90.075)

Metadata

Model: gpt-5-mini
Short Digest: 8310bf30

Response Measures

None

Description

Article (NY Herald, 1842-06-12) reports that the banks of New Orleans have again suspended specie payments. No mention of depositor run, receivership, or permanent closure; wording implies a temporary suspension.

Events (1)

1. June 11, 1842 Suspension

Cause Details: Article simply reports the banks have again suspended specie payments without specifying a triggering cause (likely regional liquidity stress).
Newspaper Excerpt: you will perceive by the southern papers that the banks of New Orleans have again suspended specie payments.
Source: newspapers

Newspaper Articles (1)

1. June 12, 1842 The New York Herald New York, NY

Article from The New York Herald, June 12, 1842

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Article Text

# BY THE SOUTHERN MAIL. Baltimore. [Correspondence of the Herald.] BALTIMORE, JUNE 11, 1842. MR. EDITOR :— You will perceive by the southern papers that the banks of New Orleans have again suspended specie payments. This is a bad move. It will cause a number of persons in Baltimore, as well as other cities, who have been speculat-ing in the paper of said banks, to lose heavily. The largest list of applicants for the benefit of the State insolvent law appeared yesterday that we have probably ever had; the number was forty-three, besides seven general bankrupts. This is a sign of the times, but not a good one. Those who attempt to force men into the payment of dues now, by placing the dungeon before them, through the instrumentality of that barbarous relic, imprisonment for debt, are not only inhuman, but decidedly foolish. If people have it not, why they can't pay. Blood comes not from marble, nor money from wormwood. The Delaware firemen took their departure yesterday afternoon highly delighted. I saw yesterday some specimen stocks of rye raised on the farm of Mr. Thomas Matthews, Gunpowder, Baltimore county, which measured eight feet three inches in length. Beat this who can. The notorious Himes, who attempted to murder and did assist in robbing Mr. J, Nicholson, the broker, and who proposed to turn State's evidence, was yesterday brought before the Grand Jury and most stubbornly denied all par-ticipation in, or any knowledge of the affair. He is a most hardened creature. First he proved treacherous to his guilty companions and now to the States. The schooner Thadeus was fallen in with in the bay by Captain Nowell, on the 8th, a perfect wreck. None of the crew to be seen—supposed to have been lost. The atmosphere was cold enough last evening for frost Yours, RODERICK.