Bank of the State of Mississippi

The Bank of Mississippi was created by an act of the territorial legislature on December 25, 1809, with its headquarters at Natchez and its charter to run through 1834. After Mississippi was admitted to the union in December 1817, the new state legislature passed an act changing the bank's name to the Bank of the State of Mississippi and extending its charter to December 31, 1840. By this legislation, branches were authorized at Port Gibson and Woodville, and no other banks could be incorporated during the life of the charter. However, in 1830, a financial crisis, precipitated in part by the state's debt to the bank, caused the government to ignore its pledge, and the Planters' Bank was chartered. Unable to recover, the Bank of the State of Mississippi was authorized to wind down its business and by 1834 it was largely defunct.

From the description of Bank of the State of Mississippi records, 1804-1846. (University of Texas Libraries). WorldCat record id: 32931967

The Bank of Mississippi was created by an act of the territorial legislature on December 25, 1809, with its headquarters at Natchez and its charter to run through 1834. After Mississippi was admitted to the union in December 1817, the new state legislature passed an act changing the bank's name to the Bank of the State of Mississippi and extending its charter to December 31, 1840. By this legislation, branches were authorized at Port Gibson and Woodville, and no other banks could be incorporated during the life of the charter. However, in 1830, a financial crisis, precipitated in part by the state's debt to the bank, caused the governmet to ignore its pledge, and the Planters' Bank was chartered. Unable to recover, the Bank of the State of Mississippi was authorized to wind down its business and by 1834 it was largely defunct.

From the guide to the Bank of the State of Mississippi Records, 85-311., 1804-1846., (Dolph Briscoe Center for American History, The University of Texas at Austin)