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Philadelphia banks finally resume specie payments

Philadelphia, Pennsylvania Vicinity, 1857
In the fall of 1857 most banks in the country were forced to suspend specie payments. Many resumed payments within months but Philadelphia and Baltimore banks had some difficulty. On February 3, 1858, the Philadelphia banks resumed payments and the Baltimore institutions followed two days later. (By John Osborne)
Source Citation: 
The American Almanac and Repository of Useful Knowledge for the Year 1859, (Boston: Crosby, Nichols, and Company, 1859) 367.


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