THE BANK CASE: A Report on the Cases of the Bank of South Carolina and the Bank of Charleston, upon "Scire Facias" to Vacate Their Charters, for Suspending Specie Payments, with the Final Argument and Determination thereof, in the Court for the Correction of Errors of South Carolina, in the Years 1842, and 1843. Printed by order of the Legislature of South Carolina

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1st edition. Hardcover in full calf leather binding with paper label on spine. Leather boards are covered in a plastic cover by a previous owner that has effectively adhered to the leather boards. 5.5" x 9.25", 550 pp. Speculation helped create the Panic of 1837 which was followed by five years of recession, during which time business and farming bankruptcies were common and banks across the nation failed. The Bank of South Carolina and the Bank of Charleston suspended specie payments several times, the last in 1840, resulting in the legislature passing new regulations; the state took the banks to trial, the revocation of their charters hanging in the balance. The judge in the case, A. P. Butler ruled for the banks but the decision was reversed on appeal. However, since by that time the banks had resumed specie payments, the general assembly passed new legislation allowing the banks to keep their charters, so long as they abided by the new regulations. For a detailed consideration of this case, see W.A. Clark's "The History of Banking Institutions in South Carolina Prior to 1860" (Columbia, S.C., 1922). "State of South Carolina initiates action against two banks for failure to comply with Act of 1840" (OCLC; rather widely held, citing about 40 locations). Sabin 87448. American Imprints 44-356. Goldsmiths'-Kress 33846.39. Cohen 11229. Turnbull II, p.489. Bartleby's 2024. N° de ref. del artículo 100946

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