banks of Baltimore - Baltimore, MD

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: February 9, 1841
Location: Baltimore, Maryland (39.290, -76.612)

Metadata

Model: gpt-5-mini
Short Digest: 3bd8d69c

Response Measures

None

Description

Article (Feb 9-10, 1841) reports the suspension of Philadelphia and Baltimore banks in the context of a wider monetary panic. It explicitly says there has been no run on the banks and that business continues; no receivership or permanent closure is mentioned. Thus this appears to be a suspension related to a systemic monetary disturbance with banks continuing operations afterward.

Events (1)

1. February 9, 1841 Suspension

Cause: Macro News
Cause Details: Systemic monetary panic affecting multiple cities; suspension of Philadelphia and Baltimore banks reported amid market turmoil and heavy discussion in New York; not described as a bank-specific failure.
Newspaper Excerpt: These ... nothing else talked of in the city but the suspension. ... stopping the Philadelphia and Baltimore banks, are now striving ...
Source: newspapers

Newspaper Articles (1)

1. February 18, 1841 The Hillsborough Recorder Hillsboro, NC

Article from The Hillsborough Recorder, February 18, 1841

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Article Text

Exchange on Philadelphia and Babi more 98 a 97. U. 8. Bank notes 10 a 15 per cent. discount. These 16 nothing else talked of in the city but the suspension. Very hale business has been done. nor will there be ill the worst is known. There has been no run upon our banks, though various reports to that effect have been circulated. New York, Febuary 9. Monetary affairs are almost the only topics of conversation. Politics, for a time, are banished. Wali street is thronged with anitions inquirers after the value of stocks, or the safety of their deposites. But there is no run upon the banks. It is well understood that they are firm. The specie in their vaults has been increased since the first of January, now amounts to while and de about and their circulation $5,504,100, posites are the same. They pursue their usual course of business, and discount with some freedom. New York, February 10. MeLeod has at last been indicted for murder committed on the night the Cs roline was bornt. His trial wi!l come on some time next month; till theu, he will remain in prison at Lockport. The exeitement has subsided. and be will, no doubt, have an impartial trial. The parties whose efforts were success ful in stopping the Philadelphia and Bal. timore banks, are now striving to ward off public indignation by attempts to show how much the interests of this city will be promoted by the prostration of credit in rival markets; and the fact that large quantities of Eastern manufactures have been onlered back from Philadelphia since the suspension, is heralded as one of the first fruits of their iniquitous scheme. If Balimore and Philadelphia, aigue these men. have no credit to buy goods for the South and West, that trade necessarily comes to New York, and New York merchants thus gel rich through the misfortunes of their neighbors. Few of our merchants will thank them for this interference in their behalf. I mistake if they had not rather take their chance in a fair competition. The panic in Wall street has abated, and stocks improved to-day. U. S. Bank, 30: sales of Illinois 6 per cent. bonds at 65; Indian 62 a 621.