Bank of South Carolina (Charleston, SC)

Episode Information

Episode UID
5265878990731
Episode Type
Suspension → Reopening
Bank Type
state
Bank ID
526587899 hash
Start Date
November 28, 1860
Location
Charleston, South Carolina (32.777, -79.931)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
29afb3d80f98b607

Response Measures

None

Description

Suspension clearly stated; no articles here mention reopening or permanent failure, so reopening is presumed but not documented.

Events (1)

1. November 28, 1860 Suspension
Cause
Macro News
Cause Details
Directors met and resolved to suspend amid the political crisis and secession/anxiety following Lincoln's election and talk of dissolution of the Union.
Newspaper Excerpt
Finally the Bank of the State, the Bank of South Carolina, Southwestern Railroad Bank and the State Bank resolved to suspend and accordingly suspended.
Source
newspapers

Newspaper Articles (9)

Article from The New York Herald, November 29, 1860

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MOVEMENTS IN CALIFORNIA. SAN FRANCISCO, Nov. 17, 1860. The people of California are waiting with deep anxiety for the Eastern news showing the disposition of the Southern States on the dissolution question. After learning of Lincoln's election all political animosities greatly moderated, the republicans as well as democrats seeming to be fearful of serious trouble from the present political condition of the country. The Sacramento Standard, organ of the Breckinridge democracy, assumes that the dissolution of the Union is inevitable, and urges California and Oregon to seriously consider the question of organizing a separate republic on the Pacific coast. The idea seems to obtain little sympathy, and is denounced by a large portion of the press. SUSPENSION OF THE CHARLESTON BANKS. CHARLESTON, Nov. 28, 1860. A meeting of the directors of the several banks of this city was held this morning. The subject of suspension was agitated. Finally the Bank of the State, the Bank of South Carolina, Southwestern Railroad Bank and the State Bank resolved to suspend and accordingly suspended. The four others—the Bank of Charleston, the Union Bank, People's Bank, Planters' and Mechanics'—determined to still hold out. It is generally supposed they will all suspend to-morrow, except the Bank of Charleston. There is great rejoicing among the community at suspension. A rumor that six hundred government troops were coming on the steamer James Adger to man the harbor forthwith, created a feverish excitement throughout the city to-day. Knots were gathered on every corner discussing what should be done. On the receipt of a telegraphic contradiction of the rumor, the excitement subsided. The cadets of the Kentucky Military Academy have unanimously tendered their services to Governor Gist. AFFAIRS IN SOUTH CAROLINA. COLUMBIA, Nov. 28, 1860. Nothing specially important took place in the Legislative proceedings to-day in the House. The portions of the Message were severally referred to appropriate committees in both Houses. Special Committees were appointed to provide postal arrangements for the State after secession. CHARLESTON, Nov. 28, 1860. Several candidates for the Convention of South Carolina, over their signatures, repudiate any free State joining the Southern confederacy. UNION MEETINGS IN GEORGIA. COLUMBUS, Ga., Nov. 28, 1860. The Union or co-operation men of this city held a meeting last night. The meeting was an entire failure, very few people being in attendance and no enthusiasm. Georgia is beyond doubt more conservative than any other cotton State. The disunion men rely much upon the action of Alabama, South Carolina, Florida and Mississippi. The first two States will undoubtedly secede before the Georgia Convention meets, and this State will join them. THE FAIR AT MACON, GEORGIA. MACON, Ga., Nov. 28, 1860. The foreign department of the fair opens on Monday; the agricultural and mechanical on the 10th of December, and the stock on the 7th. The room for the articles and accommodations for people are complete. THE AGITATION IN VIRGINIA. RICHMOND, Wednesday, Nov. 28, 1860. Yost, the presiding genius of the Staunton Vindicator, Douglasite, no doubt speaks the sentiments of many when he reiterates the assertion that no man of prominence in the State, save Gov. Letcher, has come forward with any suggestion looking to a solution of the difficulties that now environ us. Senator Hunter, fearful that he may not strike the current, awaits the developement of the opinions and plans of every one else, before he will venture to present to the nation any devisement by which our country may be saved from impending ruin. He, of all others, should come forward and endeavor to direct the storm. Senator Mason, too dull to emit anything original, and too soporific to play the part of an ingenious plagiarist, amuses himself in the luxurious and dreamy delights of bedizening milk punch and apple toddy, while the very citadel of liberty is trembling and quaking under the shock of the attacks of reckless fanatics. Ex-Gov. Wise, that intellectual comet of the age, throwing himself, Achilles like, stubbornly into the bosom of Princess Anne, ventures no further than to organize his Minute Men, apparently unmindful of the duty he owes to his State and to the country—forgetful that Princess Anne is neither the State nor the Union. Union and Counter Union meetings are being called in nearly every county in the State. Hon. Jno. T. Harris, the able successor of Honest John Letcher in Congress from the Tenth Legion District, has made a speech to his constituents. He deplored the possibilities of disunion, and appealed to Virginia to stand firm, with one eye North, the watching guardian of our rights, and the other on the extreme South, exhorting them to return to the government of our fathers. By pursuing this course we might produce a reaction at the North, and a happy re-union of the South. If the worst comes to the worst and Virginia should feel it her duty to act, then she would act as became a sovereign and do whatever under the circumstances seemed to her best. He opposed telling South Carolina in advance that we do not wish to secede, but that we cannot remain in the Union if she goes out—thus inviting her to go, and that Virginia might do what she had never done before—follow. He was in favor of having a convention where the people can vote for delegates expressing their will, opposed to any convention with the object, directly or indirectly, of dissolving the Union for existing causes. A meeting has been held in Essex county, the home of Senator Hunter, at which, among other resolutions, the following was adopted:— Resolved, That we earnestly appeal to South Carolina, and the other Southern States, to unite with us in another effort to preserve the Union upon terms consistent with the safety and honor of the South. Hon. M. R. H. Garnett, Congressional Representative from the aforesaid district, is reported to have urged upon the meeting prompt and decided action, and the expression of such sentiments as would furnish evidence of devotion to the Union of the States so long as that Union afforded ample security to the rights of the South; and to that end he advocated a convention of the States, in order to obtain such additional guarantees as the changes in the constitution of the country, since the adoption of the federal constitution, required. He recommended such a policy on the part of Virginia as would enable her to mediate between the North and the South, should it be necessary, yet to assure the whole country that, in the event of a disruption Virginia would be with the South. I must be candid, and say that notwithstanding the above conservative sentiments, disunion is deeply imbued in the Old Dominion. Notes of South Carolina banks are at ten per cent here. The notes of the Planters' and Miners' Bank of North Carolina are at twenty per cent discount, and the notes of all other banks in the State at five per cent. THE FEELING IN MARYLAND. BALTIMORE, Nov. 28, 1860.


Article from Cincinnati Daily Press, November 29, 1860

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Southern Items. CHARLESTON, S. C., November 28.-The steamer Isabel, which left for Havana on Saturday, has returned, disabled. Several candidates for the Convention of South Carolina, over their signatures, repudiate any free State joining the Southern Confederacy. The State Bank of South Carolina, the Bank of South Carolina, and the Railroad Bank have suspended. The Planters' and Merchants' Bank will follow, to-morrow. BALTIMORE, MD., November 28.-Governor Hicks, of Maryland replies to a petition to convene a special session of the Legislature, declining such a course, saying he is unwilling to place Maryland in a position of appearing to join in any treasonable designs against the Union, while he is ready to go as far as any man in demanding the rights of the South in the Union.


Article from New-York Daily Tribune, November 29, 1860

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[By Telegraph.] SOUTH CAROLINA. CHARLESTON, Wednesday, Nov. 28, 1800. Sèveral candidates for the Convention of South Carofina, over their signatures, repudiate any Free State joining the Southern Confederacy. A meeting of the Directors of the several banks of this city was held this morning. The subject of suspension was agitated. Finally, the Bank of the State, the Bank of South Carolina, South Western Railroad Bank, and the State Bank, resolved to suspend, and accordingly suspended. The four others, the Bank of Charleston, the Union Bank, People's Bank, Planters' and Mechanics', determined to still hold out. It is generally supposed they will all suspend to-merrow, except the Bank of Charleston. There is great rejoicing among the community at suspension. A rumor that six hundred government troops were coming on the steamer James Adger to man the harbor forthwith, created a feverish excitement throughout the city to-day. Knots were gathered on every corner discussing hat should be done. On the receipt of R telegraphic-contradiction of the rumor, the excitement subsided. Thereadats of the Kentucky Military Academy have unanimously tendered their services to Gov. Gist.


Article from Chicago Daily Tribune, November 29, 1860

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From South Carolina. CHARLESTON, Nov. 28.-The steamer Isabel, which left Saturday for Havana, has returned disabled. Several candidates for the Convention of South Carolina, over their signatures repudiate any free State joining the Southern Confederacy. The State Bank of South Carolina, the Bank of South Carolina and the Railroad Bank have suspended. The Planters' and Merchants' Banks will to-morrow.


Article from The Evansville Daily Journal, December 1, 1860

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CHARLESTON, Nov. 28th.-The steamer Isabel, which left Saturday for Havana, has returned disabled. Candidates for Convention repudiate any free State joining the Southern Confederacy. The State Bank of South Carolina, the Bank of South Carolina, and the Railroad Bank, have suspended. The Planters' and Merchants' Bank will suspend to-morrow.


Article from Richmond Daily Whig, December 1, 1860

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MOVEMENTS IN CALIFORNIA. SAN FRANCISCO, Nov. 17, 1860. The people of California are waiting with deep anxiety for the Eastern news showing the disposition of the Southern States on the dissolution question. After learning of Lincoln's election, all political animosities greatly moderated, the Republicans, as well as Democrats, seeming to be fearful of serious trouble from the present nolitical condition of the nanning The Sacramento Standard, organ of the Breckinridge Democracy, assumes that the dissolution of the Union is inevitable, and urges California and Oregon to seriously consider the question of organizing a separate republic on the Pacific coast. The idea seems to obtain little sympathy, and is denounced by a large portion of the press. SUSPENSION OF THE CHARLESTON BANKS. CHARLESTON, Nov. 28, 1860. A meeting of the directors of the several banks of this city was held this morning. The subject of suspention was agitated. Finally the Bank of the State, the B ink of South Carolina, Southwestern Railroad Bank and the State Bank resolved to suspend, and accordingly suspended. The four others-the Bank of Charleston the Union Bank, People's Bank, Planter's and Mechanics'-determined to still hold out. It is generally supposed they will all suspend to-morrow, except the Bank of Charleston. There is great rejoicing among the community at suspension. A rumor that six hundred government troops were coming on the steamer James Adger to man the harbor forthwith, created a feverish excitement throughout the city to-day. Knots were gathered on every corner discussing what should be done. On the receipt of a telegraphic contradiction of the rumor the excitement subsided. The cadets of the Kentucky Military Academy have unanimously tendered their servicest to Governor Gist.


Article from Semi-Weekly Standard, December 1, 1860

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Suspension of ,South-Carolina Banks. CHARLESTON, November 28.-The Bank of SouthCarolina and the Railroad Banks have suspended.The Planters' and Mechanics''Banks will suspend to-morrow.


Article from Nashville Union and American, December 1, 1860

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From Charleston CHARLESTON, Nov. 28.-All South Carolina members of the Federal House of Representatives have determined to go to Washington and resign This course is taken in order to more conveniently confer with the Representatives of the other Southern States. Several candidates of the Convention of South Carolina, over their own signatures, repudiated any free State joning the Southern Confederacy. The State Bank of South Carolina, the Bank of South Corolina, and the Railroad Bank have suspended. The Planters and Merchants Bank will suspend to-morrow.


Article from Fayetteville Observer, December 6, 1860

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Hense of Representatives have determined to go to Washington and resign. This course is taken in order to more conveniently confer with the Representatives of the other Southern States. Several candidates of the Convention of South Carolina, over their own signatures, repudiated any free State joining the Southern Confederney. The State Bank of South Carolina, the Bank of South Carolina, and the Railroad Bank have suspended. The Planters and Merchants Bank will suspend to-morrow. CHARLESTON, Nov. 29.-It is now considered certain here that the ordinance of secession will be passed on the 17th or 18th of December. Our representatives are leaving for Washington. Ordnance and ammunition have lately been landed from a schooner at Fort Moultrie. Some of the army officers say that now Fort Moultrie is almost impregnable. COLUMBIA, S. C., Nov. 30. - The House directed the Military Committee to consider the best method of fortifying the most exposed portions of the coast. MILLEDGEVILLE, Nov. 30.-The Legislature chose Breckinridge Electors. New ORLEANS, Dec. 1.-A committee of citizens of Texas petitioned Governor Houston to convene the Legislature. The Governor responded that viewing the proposed measures as unwise, he could not call the Legislature together, but if is majority of the citizens of the State petition for it, he could not stand in their way. The secession feeling largely predominates. MEMPHIS, Dec. 1. A large and excited assetabløge last night passed resolutions accepting the irrepressible conflict now upon us; calling on the Governor to convene the Legislature, calling a Convention of the State, and also of one of all the Southern States; and pledging Tennessee to stand by the action of a Southern Convention for weal or woe. CLINTON, Mo,, Dec. 1.-- Reports speak of inhabitants along the Missouri border fleeing, to escape from binds of Abolitionists, supposed to be connected with Montgomery, but indicating great alarm. Naw YORK, Dec. 1.- The Washing ton correspondent of the N. Y. Times says the secession feeling is moderate. A conservative compromise measure is being prepared to cover the entire sectional issue. Florida advices say that the Secrssion feeling largely predominates. Louisville,Ky., Dec. 1.--A report from Burksville says that fifteen negrees and one white man were bung for attempted insurrection on the part of the negroes, led on by the white man. No particulars are given.