Boston Bank - Boston, MA

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: May 25, 1838
Location: Boston, Massachusetts (42.358, -71.060)

Metadata

Model: gpt-5-mini
Short Digest: ab1f8565

Response Measures

None

Description

Article (Columbus Democrat, 1838-06-02) reports that the Boston Bank 'expunged' its vote to suspend specie payments and has resumed in full. No run or depositor panic is mentioned. Exact date of the original suspension is not given; the resumption is reported by May 25 (receipt date). Bank charter type not explicit; 'state' chosen because national banks did not exist in 1838 and the name lacks 'Trust' or 'Private'.

Events (2)

1. May 25, 1838 Reopening

Newspaper Excerpt: The Boston Bank has expunged its vote to suspend specie payments, and has resumed in full.
Source: newspapers

2. * Suspension

Cause Details: Article indicates the bank had voted to suspend specie payments earlier, but gives no specific trigger or reason for that vote.
Newspaper Excerpt: The Boston Bank has expunged its vote to suspend specie payments, and has resumed in full.
Source: newspapers

Newspaper Articles (1)

1. June 2, 1838 Columbus Democrat Columbus, MS

Article from Columbus Democrat, June 2, 1838

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Article Text

"To William Lemon, Dr. &c &.c." We take the following Items of intelligence from the Nashrille Union, received by Express Mail, May 25. We learn by a slip from the Louisville Advertiser, that the Treasury Note bill passed the House of Representatives on the night of the 16th inst., and was sent to the Senate for concurrence. The banks of Philadelphia are redeeming all their notes of five dollars and under, and it is stated by the New York Whig that they will resume by the middle of next month. Exchanges on the South and South West had greatly improved. Five hundred Seminoles left New Orleans on the 20th inst. on the steam boat Renown, for their homes West of the Mississippi. Mr. Johnson, one of the whig candidates for Governor in Louisania, has declined. The Governor of South Carolina has called an extra session of the Legislature, to take into consideration such measures as may be required by the late conflagration in Charleston. The Secretary of War has placed the Barracks at Charleston at the disposal of the Mayor of the city, for the use of the sufferers by the fire. The Federalists in Congress, are trying to leave the government without means to pay the claims upon it, by neglecting to pass the laws providing for them. They did the the same during the late war, and received the reward which awaits them now-THE CONDEMNATION OF THE COUNTRY. The Boston Bank has "expunged" its vote to suspend specie payments, and has resumed in full. Two thousand copies of Democratic Magazine and Review are circulated in New York city. A YANKEE BOUQUET FOR THE QUEEN OF ENGLAND--Among the small articles of freight Western carries out is one which be a in England. is a of flowers, culled from at Hallet's Cove, and is garden, bouquet will which the novelty Great tin intended It Mr. Thorburn's beautiful herme- for the It was enclosed in a case, sealed, with plate cover. was at the of and so that it is prepared trically Queen. prepared, suggestion hoped glass Lieut. it will be Carpenter, preserv- It ed with freshuess to be presented next week to he Queen, at Windsor Castle. The Louisana State Bank has resumed specie payments on all its bills. There are now five banks in N. Orleans that redeem their circulation, and it is expected that others will follow their example in a short time. Another smell blow steam boat Yafrom Mobile to New Orleans burst one of on the 7drinst., off a by the name was which her zeo, boilers passenger Britton of Keeler Island, min- by severely injured, that he survived but a few utes. The Yazoo was towed into the North East pass of the Mississippi rivor, by the Columbus. Public lands in Louisana.-The quantity of lands within the bounds of this state,istwenmillions of acres, according to public ty the returns of the commissioners of the land office, made to Congress at its present session. Only half of this has been surveyed, and one sold, quantity millions tenth still which leaves a balance of eighteen remaining the property of the government. Agricultural Wealth of Ohio.-The Cleve. land Herald and Gazette of the 28th ult. states has been from port that there shipped that the 27th within inthe past five days, or from the 23d to clusive, four thousand nine hundred and eightytwo barrels of flour, and forty-nine thousand two hundred and thirty-nine bushels of wheat, of Ian estimated value exceeding one hundred thousand dollars. Right of a bank to sue during the suspension. -The New Orleans Commercial Herald of the the following important item:-have been lately in Court the right and Union Banks to sue, it laya District 12th Two inst exceptions contains involving of institutions. being the been Atchafay- alleged tried that are paying Judge they non-specie the The has not yet decided exceptions. We shall inform our readers of the result." The pay to Congress amounts to$2,181 67 per. day. Vermont Banks.--We learn from the Vermont papers that the bank of Montipolier has resumed specie payment, and that the bank of Burlington has resolved to resume to-day.