Diary of Charles Francis Adams, volume 7

Wednesday 10th.

Friday. 12th.

Thursday. 11th. CFA


Thursday. 11th. CFA
Thursday. 11th.

The day was fine. I went to Quincy very early and found them getting along very rapidly. They have nearly covered in the whole with 241boards and are carrying up the Chimneys pretty fast. The other work of clearing, digging &ca is also going on with some rapidity. I then called upon Mr. Brigham with respect to an Instalment that had been called upon the Stock of the Quincy Canal and made a settlement with him by a surrender of as many Notes as amounted to the sum, receiving the balance of Interest due upon them. Thus far being settled, I returned and then home.

Found the whole of State Street in most unparalleled agitation caused by the intelligence from New York that all the Banks in that City had suspended specie payments. Thus is this matter at length brought to a crisis and from an apparently high state of prosperity we are at once plunged into utter bankruptcy. So much for General Jackson’s better currency and the whole train of fine theories which depend from it.

Home late. Afternoon Plutarch and Agathon. Evening, made a call at Mr. Brooks to see Gorham, but found them going out, so I would not stay.

It seems there has been a popular meeting at Faneuil Hall to recommend a stoppage here, and the Bank Directors meet tonight to the same effect. Such is the consequence of the extraordinary reaction which has taken place within two months. The prospect for the future is now more unpromising than ever. On my return home, T. K. Davis called and we had a talk upon present affairs, and the consternation of the monied men.