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.
Record Data
Date Certainty
Exact
Type
Business/Industry