A letter from Mr.Woodbury promised the support of the Treasury Department.

A committee of one from each State was appointed, which recommended the first Monday in October as the earliest day for a general resumption.

The convention could not, however, be brought to fix upon so early a day, but finally fixed upon January 1, 1839, and adjourned.

The New York banks would have accepted July 1, 1838, but this being refused they resumed alone on May 10, and the force of public opinion compelled resumption by nearly all the banks of the country on July 1.
The terrible contraction was fatal to the United States Bank of Pennsylvania, which after a vain struggle closed its doors in October, 1839, and carried with it the entire banking system of the Southern and Southwestern States.

Although in no way similar to the semi-governmental institutions which preceded it, yet, from its similarity of name and identity of location, its disastrous failure added to the blind popular distrust of its predecessors, which narrow-minded politicians had fostered for their own selfish purposes.