Morning out with my children to enjoy the freshness of the morning air. It was fine and warm and they appeared to relish it. Then to the Office but I could not sit very quiet nor do much of any thing. The period is so exciting. The Banks in Boston this morning refused to pay specie for their Notes, and paid out only bills not their own. The credit gained during the War has not been sustained and we are now open to all the evils of a depreciated paper. Of course it is idle to complain for any sensible and observing man must have perceived this long ago. But it is fearful looking at the consequences which must open up from such a step. Today the Banks are careful but how long will they continue so? There is the rub. The barrier is now broken through and what strength can be derived from a mere line. Conversation with Mr. Walsh and Mr. Everett. The great object of interest now is the course of the President, and that of the United States Bank. They may yet save the Country.

Home. Greek. Afternoon, took my wife with me to Quincy. They are going on pretty rapidly with the work now. The framing is done and the men are gone. The mason and Mr. Ayer are now going on. I gave directions in a variety of ways and watched the work until it was time to return. Evening at home. Read Byron to my wife and afterwards writing.

Fine day though cold. I went first to Market where I found silver yet freely circulating then to the Office. The people are yet in a restless, agitated state about the step which has been taken and eager lookers on of events. The news today is that the Bank of the United States has suspended specie payment on the plea that it will not allow itself to be weakened of it’s resources to go on again whenever the Government will announce itself as ready to perform it’s obligations. This is adroit and specious if not sound. It now remains to observe the course of the Government itself which is unquestionably in a most perilous predicament.

Home. Read Homer. Wrote a letter to Mr. Johnson which I copied in the Afternoon and sent.1 Experienced difficulty in effecting payment for small articles by want of silver change. How rapidly effects develope themselves. Called on T. K. Davis and saw Mr. Walsh. Conversation about the only topic of interest. It is now affirmed that all the great commission houses were about to declare themselves bankrupt when the suspension took place. And rumour has touched the credit of most of the wealthy men here. The Independence too, it is said is detained for want of specie.2 Home. Agathon. Evening, Mr. Brooks and Gorham called. The latter talked of his affairs more openly. He has barely escaped the storm. They went early, then my Wife and I to the Concert of my German friend Mr. Geitner.3 I distributed my Tickets as freely as I could. Found about one hundred and fifty people. Music dull, principally concerted instrumental music selected rather with reference to execution than beauty. Mrs. Gibbs, a star sung a couple of songs in a very cultivated style but with a voice more powerful than sweet. Home at ten fatigued.