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Philadelphia banks resume specie payments

Banking, iconic image
03/19/1861
Philadelphia banks resumed specie payments after almost four months.  Financial disruption following the general election had resulted in them being suspended in the city on November 22, 1860.  In the following months, however, bankers abroad, particularly in Britain, shipped large amounts of gold to the United States and by March the situation had eased.   (By John Osborne) 
Source Citation: 
Frank H. Taylor, Philadelphia in the Civil War (Philadelphia, PA: City of Philadelphia, 1913), 345.

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How to Cite This Page: "Philadelphia banks resume specie payments," House Divided: The Civil War Research Engine at Dickinson College, http://hd.housedivided.dickinson.edu/node/35768.