... served by the new and greatly expanded banks of the South and West, as well as by the western branches of the Bank of the United States. Bank stockholders who had borrowed on the basis of unpaid ... Passed by the Congress of the United States of America (Boston: Wells and Lilly, 1827), II and III, passim. 34 See the data compiled from the records of the General Land Office, in Smith and Cole, ... 8 THE PANIC AND ITS GENESIS $10 million, and the loans were particularly heavy to the important Philadelphia and Baltimore officers and directors of the Bank.26 Control over the branches of...