NOTE TO SECOND EDITION.
The stoppage of specie payments referred to above, in 1814, commenced in Baltimore about the 27th of August, soon after the battle of Bladensburgh and the capture of Washington, which events took place on the 24th of that month, and was followed by Philadelphia on the 30th, and by New York on the 1st of September. A general resumption took place on the 20th of February, 1817.
The second stoppage commenced at New York on the 10th of May, 1837, and was followed at Philadelphia on the 11th, at Boston and Baltimore on the 12th, and in all other places in quick succession. Resumption took place at New York on the 9th of May. In Boston, Philadelphia, and places further, south it was delayed until the 13th of August.
Since the publication of the first edition of this book, all the banks in the United States, south of New York, which pretended to pay in specie, suspended payment again. This event took place first in Philadelphia, on the 9th of October, 1839, and was followed by the rest in rapid succession, leaving only New York and New England in the enjoyment of a convertible currency. This suspension has continued to this time, and is expected to continue until 1841.
June 1, 1840.
