Bank of Maryland

More Than Meets the Eye: History of Maryland Through Prints, 1750-1900
Room 3: Rowdies and Riots

Maryland Historical Society
Library of Maryland History
201 W. Monument Street
Baltimore, MD 21201
Phone: 410-685-3750
Fax: 410-385-2105
E-mail: library @mdhs.org

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Maryland History In Prints: 1752-1900
by Laura Rice

Bank of Maryland

Drawn by "Crayon"
1834

Lithograph

On Friday, March 29, 1834, one of the "most stupendous and general frauds ever committed," resulted in the closure of the Bank of Maryland. Baltimoreans were "thrown into a state of high excitement" by a notice in local papers that the directors of the bank were closing the institution and transferring its assets to a trustee for distribution to the bank's creditors. Those hurt most by the bank's default were not major investors or the wealthy, but those of more limited means: "this bank held a large amount of the money of widows and orphans, small dealers and thrifty persons, mechanics and others."

Over the next eighteen months, published audits revealed that circulating notes were issued far in excess of specie reserve, and that directors had manipulated stock to their own advantage. Bank officials issued pamphlets accusing each other of mismanagement, fraud, and backroom meetings. Public reaction turned violent on August 6, 1835; over the course of five days, mobs attacked and destroyed the homes and possessions of bank directors Reverdy Johnson, John Glenn, and John B. Morris. The furniture and household possessions of the mayor, several other bank officials, and two citizens accused of resisting the mob were also destroyed. The mayor issued a warning to citizens to remain at home; he then resigned. Aging General Samuel Smith led the city's firefighters, a detachment of United States Army regulars, and a group of armed citizens in patrolling the streets until the city was quiet again.

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Room 1: Immigrants in Maryland
Room 2: Evangelical Religion and Reform
Room 3: Rowdies and Riots
Room 4: Changes in the Land
Exhibit Home Page
CONTENTS: Room 3
15. The Conspiracy Against Baltimore, or The War Dance at Montgomery Court House
16. Canvass Back Duck 1 Male, 2 Female. View of Baltimore, Maryland
17. Bank of Maryland
18. St. Patrick's Church
19. Weccacoe Engine Cos. House, and Reception of United Fire Co. of Baltimore
20. National Convention of Whig Young Men Assembled at the Canton Course Baltimore May 4th 1840
21. Fanny Elssler and the Baltimoreans
22. The Lexington of 1861