history images Mound City on the Mississippi Home Page
image menu Buildings, Sites, and Objects People, Places, and Things Events, Incidents, and Occurrences Bibliography

events


Event:  Creation of the Bank of the State of Missouri
Category:  Economy/Employment
Brief Description:  The state created a bank in St. Louis in 1837, and while it was never the biggest bank in town, it earned a reputation as the soundest bank west of the Appalachians. Until 1857, the bank held a legislated monopoly in Missouri, which contributed to the slow growth of industry during this period. During the Panic of 1837, the Bank of the State of Missouri refused to accept notes from other banks that did not pay in specie. This strengthened the bank´s position in St. Louis, as other banks were closing due to the economic downturn. The bank did not bail out customers who had overextended their credit, choosing to keep itself from going under.
Year:  1837
Decade:  1830 - 1839
Beginning Date:    1837
Ending Date:     Dec. 31, 1841

 

 

people • structures • events • sources • home
about historic preservation• new entries• 4 kids only• map it!

This site was made possible by: the City of St. Louis Planning and Urban Design Agency and
the City of St. Louis Community Information Network.

This site was funded in part by Federal funds administered by the Missouri State Historical Preservation Office, Missouri Department of Natural Resources, The National Park Service, and the U.S. Department of the Interior.


Version 1.0