Farmers Bank of Virginia (Richmond, VA)

Episode Information

Episode UID
2931746090731
Episode Type
Suspension → Reopening
Bank Type
state
Bank ID
293174609 hash
Start Date
November 20, 1860
Location
Richmond, Virginia (37.554, -77.460)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f27c0ba8d3f4cb78

Response Measures

None

Description

Contemporary reports say the bank suspended to resume soon; no later article of reopening provided.

Events (1)
1. November 20, 1860 Suspension
Cause
Macro News
Cause Details
Severe pressure in the money market and general liquidity squeeze affecting Virginia banks; prudential suspension to prepare for resumption.
Newspaper Excerpt
The Farmers' Bank of Virginia has suspended specie payment, and resolved to pursue a course of policy to prepare for an early resumption.
Source
newspapers

Newspaper Articles (10)
1. November 21, 1860 The Daily Exchange Baltimore, MD
Article from The Daily Exchange, November 21, 1860

Click image to open full size in new tab

Article Text

See Fourth Page. FOR SHIPPING INTELLIGENCE. LATEST NEWS. TELEGRAMS. Suspension of Specie Payment by Virginia Banks. RICHMOND, Nov. 20.-The Farmers' Bank of Virginia has suspended specie payment, and resolved to pursue a course of policy to prepare for an early resumption. The other banks will follow this course as a prudential measure, during the present pressure.

2. November 21, 1860 The Daily Exchange Baltimore, MD
Article from The Daily Exchange, November 21, 1860

Click image to open full size in new tab

Article Text

SUSPENSION OF THE FARMERS' BANK OF VIRGINIA.We learn by telegraph, from Richmond, that the Farmers' Bank of Virginia suspended specie payment yesterday, but would pursue a course of policy that would enable it to resume at an early day. It is expected that the other banks will adopt the same course as a prudential measure.

3. November 21, 1860 Evening Star Washington, DC
Article from Evening Star, November 21, 1860

Click image to open full size in new tab

Article Text

Supension of Specie Payment by Virginia Banks. RICHMOND, Nov. 20.-The "Farmers' Bank of Virginia" has suspended specie payment and resolved to pursue a course of policy to prepare for an early resumption. The other banks will follow this course as a prudential measure during the present pressure.

4. November 21, 1860 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, November 21, 1860

Click image to open full size in new tab

Article Text

The Virginia Banks. RICHMOND, Tuesday, Nov. 20, 1860, The Farmers' Bank of Virginia has suspended specie payment, and resolved to pursue a course of policy to prepare for early resumption. Other banks will follow as a prudential measure during the present pressure.

5. November 21, 1860 The New York Herald New York, NY
Article from The New York Herald, November 21, 1860

Click image to open full size in new tab

Article Text

Suspension of the Virginia Banks. RICHMOND, Nov. 20, 1860. The Farmers' Bank of Virginia has suspended specie payment and resolved ed to pursue n course of policy to prepare for early resumption. Other banks will follow HAS a prudential measure during the present pressure.

6. November 22, 1860 The Evansville Daily Journal Evansville, IN
Article from The Evansville Daily Journal, November 22, 1860

Click image to open full size in new tab

Article Text

RICHMOND, Va., Nov. 20.-The Farmers' Bank, of Virginia, assuspended specie payment and resolved to pursue a course of policy to prepare for early resumption. Other banks will follow as a prudential measure during present pressure. There is a terrible pressure in the money market, and nothing doing in produce market. Flour is dull and declining with few sales, and the market overstocked. The mills have stopped operations excepting the Gallego mills. Wheat has declined 10c per bushel.

7. November 22, 1860 Cleveland Morning Leader Cleveland, OH
Article from Cleveland Morning Leader, November 22, 1860

Click image to open full size in new tab

Article Text

BANK FAILURE. RICHMOND, Nov. 20. The Farmer's Bank of Virginia has suspended specie payment, and resolved to pursue a course of policy to prepare for an early resumption.Other banks will follow as a prudential measure, during the present pressure. There is a terrible pressure in the money market and nothing doing in the produce market. Flour is dull and declining with few sales, and the market is overstocked. All the mills have stopped operations excepting the Gallego Mills. W heat has declined 10c a bushel.

8. November 22, 1860 Daily Intelligencer Wheeling, WV
Article from Daily Intelligencer, November 22, 1860

Click image to open full size in new tab

Article Text

RICHMOND, V.., Nov. 20.-The Farmers' Bank of Virginia, suspended specie payment to-day, and resolved to pursue a course of policy to prepare for an early resumption. The other banks of the State will follow this plan as a prudential measare during the present pressure.

9. November 23, 1860 The Daily Gate City Keokuk, IA
Article from The Daily Gate City, November 23, 1860

Click image to open full size in new tab

Article Text

From Richmond. RICHMOND, Nov. 20. The Farmer's Bank of Virginia has suspended specie payment, and resolved to pursue a course of policy to prepare for early resumption. Other banks will follow as a prudential measure during the present pressure. There is a terrible pressure in the money market, and nothing doing in the produce market. Flour is dull and declining, with few sales. The market is overstocked. All the mills have stopped operations except the Gallego mills. Wheat has declined 10c.

10. November 23, 1860 Montgomery County Sentinel Rockville, Gaithersburg, MD
Article from Montgomery County Sentinel, November 23, 1860

Click image to open full size in new tab

Article Text

AF The Farmers' Bank of Virginia, at Richmond. suspended specie payments on Tuesday last. It is understood that all its branches will do likewise. All the banks at Richmond and Petersburg suspended on Thursday last.