8322. Banks in Baltimore (Baltimore, MD)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
September 25, 1873
Location
Baltimore, Maryland (39.290, -76.612)

Metadata

Model
gpt-5-mini
Short Digest
1f822d00

Response Measures

None

Description

Articles (dated 1873-09-25) report that banks in Baltimore adopted a policy of suspending payment of currency except in small amounts during the panic of 1873. This describes a temporary suspension (a protective policy) tied to the wider financial panic; no bank run, permanent closure, or receivership is reported.

Events (1)
1. September 25, 1873 Suspension
Cause
Macro News
Cause Details
Adopted as part of banking response to the financial panic of 1873 and loan-certificate policies; temporary suspension of currency payments except in small amounts
Newspaper Excerpt
The policy of suspending the payment of currency by the banks, except in small amounts, has been adopted in Baltimore
Source
newspapers

Newspaper Articles (2)
1. September 25, 1873 Wilmington Daily Commercial Wilmington, DE
Article from Wilmington Daily Commercial, September 25, 1873

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Article Text

The Situation, Yesterday. The Philadelphia Ledger, says There was generally a calmer feeling in financial circles yesterday, and the loan certificate policy adopted by the banks in this and other cities inspired hopes of a speedy progress towards recovery from the effects of the panic. The New York Stock Exchange will remain closed until further notice. Two suspensions were reported yesterday in New York-Howes & Macy, and Brown & Watson, gold brokers. The suspensions reported elsewhere were Brown, Lancaster & Co., at Baltimore Brown & Gray, at Wilkeebarre ; and the Dollar Savings Bank. and I-sace. Taylor & Williams, at Richmond, Virginia. The policy of suspending the payment of currency by the banks, except in small amounts, has been adopted in Baltimore and Richmond. In Chicago and Cincinnati the financial condition is reported sound. Not a single case of failure or embarrassment is reported in mercantile circles anywhere.

2. September 25, 1873 Wilmington Daily Gazette Wilmington, DE
Article from Wilmington Daily Gazette, September 25, 1873

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Article Text

The Financial Situation, There was generally a calmer feeling, in financial circles Wednesday, and the loan certifica'e policy adopted by the banks in Philadelphia and other cities inspired hopes of a speedy progress towards recovery from the panic. The New York Stock Exchange will remain closed until further notice. Two suspensions were reported Wednesday in New York-Howes & Macy, and Brown & Watson, gold brokers. The suspensions reported elsewhere were Brown, Lancaster & Co., at Baltimore; Brown & Gray, at Willkesbarre; and the Dollar Saving Bank, and Isaace, Taylor & Williams, at Richmond, Virginia. The policy of suspending the payment of currency by the banks, except in small amounts, has been adopted in Baltimore and Richmond. In Chicago and Cincinnati the financial condition is reported sound. Not a single case of failure or embarrassment is reported in mercantile circles anywhere.