The Baltimore bank riot of 1835 was a reaction against several bank directors who tried to earn money by investing the depositor's life savings in the Union Bank of Maryland. When this was unsuccessful and the bank closed, the directors pulled out and threatened the savings which had been converted to credit. It was one of the most violent and destructive riots in any antebellum American city. Rioters destroyed many of the homes of the wealthiest and most prominent citizens, and possessions were thrown into bonfires. The authorities surrendered the city to mobs supported by thousands of bystanders.
The Bank of Maryland closed in the spring of 1834 which, combined with the failure of other financial institutions, resulted in the loss of millions of dollars by the public. The bank's creditors awaited a settlement, though lost patience after 17 months. On August 6, 1835 a small crowd approached bank director Reverdy Johnson's home on Monument Square, broke his windows and left. Anticipating further violence, Mayor Jesse Hunt and other citizens began to guard Johnson's home. A hostile crowd returned on Friday evening August 7 and broke more windows, despite the mayor's presence. Mayor Hunt addressed the crowd and persuaded them to leave.[1]
Mayor Hunt summoned thirty armed horsemen who formed a cordon across the entrance to the square. The next evening, a large crowd gathered in Baltimore Street and marched north on Calvert toward the mayor and his guard. Unable to break through, the crowd moved to the home of John Glenn, another bank director, where they smashed windows, broke through a barricaded front door, threw furniture into the street, and tore down the entire front wall. Though police arrived and fired into the mob, it wouldn't disperse.[1]
On Sunday, August 9, the mob returned to the Johnson home, this time overpowering the guard there and repeating the same destruction, making a bonfire in the street out of Johnson's valuable law library. Having taken full control of the town, the mob continued its destruction against the homes of bank director John B. Morris, Mayor Hunt, Evan T. Ellicott, a Captain Bentzinger, and a Captain Willy (who had merely protested the mob's action).[1]
In an effort to resolve the situation, a mass meeting was held at the Exchange building. Mayor Hunt resigned and 83-year old General Sam Smith took over. Smith organized volunteers to march with him to Howard's Park where the Washington Monument had recently been completed. A great crowd responded and received instructions to arm themselves and assemble at City Hall. At 3,000 in number, Smith's army of volunteers humbled the mob. A call for help had already gone out to Annapolis and Washington for federal troops, though by the time they arrived the Baltimore mob had dispersed and the city was quiet.[1]
The leaders of the mob were identified, brought to trial, fined, and imprisoned. Those whose property was destroyed filed suit against the State of Maryland for its failure to protect them. They won their cases and received a total of $100,000.[1]