Bank of Monroe - Monroe, MI

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: March 22, 1837
Location: Monroe, Michigan (41.916, -83.398)

Metadata

Model: gpt-5-mini
Short Digest: 9a29ae84

Response Measures

None

Description

Article (Constantine Republican, 1837-03-22) reports the Bank of Monroe 'has availed itself of a provision in its charter, and suspended payment for sixty days.' No run or failure is mentioned and the writer assures depositors the bank 'will not go down', implying a temporary, charter-invoked suspension (30/60/90 rule).

Events (1)

1. March 22, 1837 Suspension

Cause: Voluntary Liquidation
Cause Details: Bank invoked a provision in its charter to suspend payments for sixty days (30/60/90-day rule).
Newspaper Excerpt: the Bank of Monroe has availed itself of a provision in its charter, and suspended payment for sixty days.
Source: newspapers

Newspaper Articles (1)

1. March 22, 1837 Constantine Republican Constantine, MI

Article from Constantine Republican, March 22, 1837

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Article Text

Bank shut.-In the last Monroe Times, a writer briefly states that "the Bank of Monroe has availed itself of a provision in its charter, and suspended payment for sixty days. He signs himself, "ONE WHO KNOWS," and cautions the holders of the bills not to throw them away, but be assured the Bank will not go down.