Bloomington Herald

Explosion of the United States Bank.

The great head of whiggery given up the ghost. Confidence restored—Harrison elected—and Bank run down to $44 3-4 per share! And on the 4th instant, the stock of the Biddle Bank in the evening the great Leviathan—the author of iniquities gave up the ghost. For our country we rejoice, but we shall not riot on the carcass of a dead and despicable foe to human liberty—to honor and to honesty.

From the Philadelphia Ledger of the 5th instant.

UNITED STATES BANK.—A great degree of excitement prevailed in this city yesterday afternoon and evening, in consequence of a rumor which was, as we learn, a failure on the part of the Bank to meet certain demands against it. As far as we could best ascertain the facts, there was a heavy draft presented about half past 2 o'clock, by the runner of the Brokers between this city and New York. We hear the sum stated as high as three hundred thousand dollars, which the bank failed to meet, the officer saying "it could not be paid," and the officer withdrew. Two other drafts, one for twenty thousand dollars, presented by a broker in third street, and another for about the same amount, by another broker, was also refused payment.

As may be imagined, the rumors of these facts soon spread abroad, and the Exchange last evening was crowded with anxious inquirers into the truth of them; and opinions were various as to the probable consequences of this unexpected measure, and a meeting of the other city banks was held last evening in relation to the matter.

Since the above was in type we have received the proceedings of a meeting of the Board of Directors of the Bank of the United States, which may be found below. By them it would appear that the Board has made a faithful effort to sustain a resumption, but with what success the suspension of yesterday fully explains:

BANK OF THE UNITED STATES, February 4, 1841.

At a special meeting of the Board of Directors of the Bank of the United States, held at the Banking House, the following Preamble and Resolutions were unanimously adopted:

Whereas, The Bank of the United States, in compliance with its pledge to the public, has made a fair and bona fide effort to resume and maintain specie payments, having since the 15th January last, paid out an amount little, if at all, short of six millions of dollars in coin or specie funds; and, whereas, the effort to maintain specie payments by this bank has been rendered abortive by the intentional accumulation and extraordinary enforcement of its instant liabilities—Therefore,

Resolved, That this Bank is under the necessity for the present, of suspending specie payments.

Resolved, That every exertion will be made by the Directors to collect the debts, and convert into cash the assets of this Bank, for the purpose of resuming payments in specie at the earliest practicable moment.

Resolved, That the foregoing preamble and resolutions be published.

[Extract from the minutes.]

A. LARDNER, Cashier.

We have just heard from the meeting of the Banks at the Exchange. The whole thirteen Banks were represented, and unanimously agreed to continue the payment of specie to-day, and for the future, as heretofore.