What is "to suspend payment"

Suspend \Sus*pend"\, v. t. [imp. & p. p. Suspended; p. pr. & vb. n. Suspending.] [F. suspendre, or OF. souspendre (where the prefix is L. subtus below, from sub under), L. suspendere, suspensum; pref. sus- (see Sub-) + pendere to hang. See Pedant, and cf. Suspense, n.]

1. To attach to something above; to hang; as, to suspend a ball by a thread; to suspend a needle by a loadstone.

2. To make to depend; as, God hath suspended the promise of eternal life on the condition of obedience and holiness of life. [Archaic]
   --Tillotson.

3. To cause to cease for a time; to hinder from proceeding; to interrupt; to delay; to stay.

   Suspend your indignation against my brother.
   --Shak.

   The guard nor fights nor fies; their fate so near At once suspends their courage and their fear.
   --Denham.

4. To hold in an undetermined or undecided state; as, to suspend one's judgment or opinion.
   --Locke.

5. To debar, or cause to withdraw temporarily, from any privilege, from the execution of an office, from the enjoyment of income, etc.; as, to suspend a student from college; to suspend a member of a club.

   Good men should not be suspended from the exercise of their ministry and deprived of their livelihood for ceremonies which are on all hands acknowledged indifferent.
   --Bp. Sanderson.

6. To cause to cease for a time from operation or effect; as, to suspend the habeas corpus act; to suspend the rules of a legislative body.

7. (Chem.) To support in a liquid, as an insoluble powder, by stirring, to facilitate chemical action.

   To suspend payment (Com.), to cease paying debts or obligations; to fail; -- said of a merchant, a bank, etc.

   Syn: To hang; interrupt; delay; intermit; stay; hinder; debar.