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Louisa Banks

This response letter, dated September 8, 1933, was sent to Mr. W.A.C. Pettit of Fredericks Hall.  While the contents of Pettit’s original letter to the Commissioner of Insurance and Banking are unknown, the response letter provides several details about Mr. Pettit’s concern.  The Commissioner denies claims to a “rumor”, which can be inferred based on context clues, about the Bank of Louisa’s financial stability and backing.  Legal ramifications are mentioned concerning Pettit’s previous letter’s contents and concerns.  The Commissioner offers advice to Mr. Pettit and asks about his willingness to testify before the Court concerning the matter.

This 1933 notice, from the Virginia Bankers Association, lets bank employees know about the legal holiday declared by Governor Pollard.  Notice the wording of this letter, such as the phrases “unusual situation” and “cool thought”; these suggest tensions within the financial institutions.  Also pay attention to the addition at the bottom of the letter: “…Congress will be called in extra session to consider the banking situation on Thurs., and that the Pres. May announce emergency measures Mon.”