Episode 3 of 3
Rejection of State Banknotes
- When
- August 1818
- Where
- Second Bank of the United States headquarters (institutional context); acting branch offices not located in passages
In August 1818, with credit dangerously overextended, branch offices began rejecting all state-chartered banknotes under the direction of William Jones.
In August 1818, with credit dangerously overextended, Second Bank branch offices began to reject all state-chartered banknotes under the direction of William Jones. This measure accompanied the bank's broader credit contraction. The acting branch offices are not located in the supplied passages; Philadelphia is cited only as the bank's institutional context.
Sources
- Panic of 1819 Wikipedia, revision of 2026-07-01
Machine-drafted from the cited Wikipedia passages and checked by a reviewing model, not by a human editor. Every passage cites the revision it was written from; dates and places follow those passages.