Commercial Bank (Columbus, MS)

Episode Information

Episode UID
3287683890450
Episode Type
Suspension → Reopening
Bank Type
state
Bank ID
328768389 hash
Start Date
June 20, 1837
Location
Columbus, Mississippi (33.496, -88.427)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2312f6b8c0b97017

Response Measures

None

Description

Suspension in June 1837 is clear; later 1840 item discusses state law re‑suspending banks but reopening evidence for this specific bank is not explicit—additional articles would help.

Events (2)

1. June 20, 1837 Suspension
Cause
Macro News
Cause Details
Suspension during the Panic of 1837 in response to local community pressure and widespread financial crisis.
Newspaper Excerpt
Resolved, That in obedience to the will of this community ... this Bank will, for the present, suspend specie payment.
Source
newspapers
2. April 1, 1840* Suspension
Cause
Government Action
Cause Details
State legislation (Bank Reform Bill) led banks that had resumed specie payments to re-suspend specie payments.
Newspaper Excerpt
several of the banks, and among them the Commercial Bk. of Columbus ... had commenced specie payments -- they fell back on the passage of what they are pleased to term the 'Bank Reform Bill.'
Source
newspapers

Newspaper Articles (3)

Article from Columbus Democrat, August 5, 1837

Click image to open full size in new tab

Article Text

Commercial Bank of Columbus, COLUMBUS, Miss. June 20, 1837. "Resolved, That in chedience to the will of this community, as publicly expressed in the Court House of this place, on the 8th inst. this Bank will, for the present, suspend specie payment." [Extract from the minutes.] By order of the Board, 50tf CHAS. H. ABERT, Cash'r.


Article from Columbus Democrat, August 12, 1837

Click image to open full size in new tab

Article Text

Commercial Bank of Columbus, COLUMBUS, Miss. June 20, 1837. "Resolved, That in cbedience to the will of this community, as publicly expressed in the Court House of this place, on the 8th inst. this Bank will, for the present, suspend specie payment." [Extract from the minutes.] Bv order of the Board, CHAS. H. ABERT, Cash'r. 50tf


Article from Southern Argus, May 12, 1840

Click image to open full size in new tab

Article Text

SMALL CHANGE. It rather occurs to us that as difficult it is now, to procure small change for ordinary business transactions, it will be much more so about the 4th of July next, when, the circulation of shinplasters of all kinds is prohibited; which would not be the case had our locofoco Legislature not made bad worse! by re-suspending those banks in the State which had commenced specie payments-by the passage of what they are pleased to term the "Bank Re. form Bill." Until that law was made, several of the banks, and among them the Commercial Bk.of Columbus & the Branch of the Planters' Bank of Mississippi at this were specie on ISplace, paying they fell all back their sues-when immediately on the which provides for payment of fives in tens in in law, April, July, the twenties October, and other denominations January next, So much for locofocoism! If there were no other evidence of the abandonment of principle and a total dis. regard of truth on the part of the lacofoco party, at the head of which is Martin Van with his *dusky sattelites, such as Columbus the Buren, Globe and Democrat-there need be no better proof that such is the fact than the vile epithets these and other shameless prints heap upon that noble paHenry Harand honest man, William rison-such as "contemptible puppet," ''petticoat "old granny," hero!" the country "stupid imbecility," &c., as though know that the whole was an at. at base detraction, and no tempt did not for Harrison other purpose than because Gen'l. presumes to run as a candidate against Mr. Van Buren for the Presidency. Gen. Harrison in doing this does nothing more than exercise the right of every American citizen. The office to which he aspires not to be held in fee simple, or be possessed entail. The humblest individual in the country may aspire to it-the carpenter, the blacksmith, the ploughman, or the day-laborer-it is free for all. But is it thus considered by those who oppose, after the locofoco fashion, the pretension of Gen'l. Harrison ? Certainly not. He looked upon by, (all such as aspiring to that which does not belong to him--and s they would look upon any other individual who could not ride in his splendid carriage with costly equipage and servants clad in livery, surpassing the pageantry of a British Nobleman. "No," say they, "Gen. Harrison, is too humble an individual-he's too poor, to be made President of the United States. He has not the air, and the courtly bearing of a KING! to be a imperious sufficiently made truth, Presi- that dent,-and to acknowledge the is the ground upon which we object to him and no other." Ah this is more like and it will be seen how well will be by poor the this fact appreciated the and with- and laboring classes, who now see, out difficulty, that their poverty or humble sphere will forever preciude them from any participation in the government of their country or any of its affairs-except sent into the swamps and starve! or to to fight be Indians, of leave Florida their to fire-sides, and dearest friends, to protect our shores from the incursions of a for eign and invading for. Yes, -if there are battles to be faught, or a great man-after a locofocos way of thinking-to be made still greater, why then, the poor are always in demand, and no sooner is the end accomplished than they are cast aside as unworthy of further troublesome and impertinent notice--considered they if set up a claim upon their country,-that country which they have defended with their best blood;-so it has been with Gen. Harrison, and so it will be with every other poor but honest man.d But Gen. Harrison does not ask the office to which he now aspires as the boon for his past services-such a thing would he scorn,-and if he did it would constitute no part of compensation,--but he aspires to it that he may be enabled to render still 8 further service to the State, and secure once more to the country those blessings 2 2 which were enjoyed during the palmiest 2 days of the Republic-achieved in part 19 9 by histotal disregard of danger and sealed to with his patriotic blood! 2 2 When-O when shall we again 9 is our country prosperous and happy ? Or 6 she forever doomed Who--who could 6 have believed that a few short years, dur 24 4 ing a period of profot nd peace, could have 2 produced such an alteration as now strikes the view of all observers, in the affairs