2021-05-12
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The first half of the XIX century: banknotes of private banks in the United States
100 dollar's note – New England Commercial Bank, Newport: 1820-1863
'Wildcat notes”, “broken banknotes”, 'obsolete money' - these terms are used for banknotes of private American banks created and operated in the XIX century exclusively under the jurisdiction of individual states.
New England Commercial Bank was established in the town of Newport, Rhode Island in 1818.The bank got its name from its location: New England is a territory in the north-east of the United States, where the first colonists from England founded their settlements in 1620. The state of Rhode Island is located on this territory-the smallest state in the United States with the administrative center in Providence.
Newport is not an administrative center, it is a small town known for its colonial-style buildings that the American elite used - and still use! - uses as country residences. As an example – the cottage of Cornelius Vanderbilt of 70 rooms or so naz. The 'summer white House' of US President John F. Kennedy.
Rhode Island is a small state, but in the heyday of state banks, 114 credit organizations of this kind were registered in it, and all of them issued their own banknotes of different denominations.
New England Commercial Bank over the years of its existence issued its own money in 10 denominations, including fractional denominations of $1.25, $1.50 and $1.75 - see below:
- 1 doll: 1818s-1860s;
- 1.25 doll: 1830s;
- 1.50 doll: 1830s;
- 1.75 doll:1830s;
- 2 doll: 1818s-1860s;
- 3 doll: 1820s-1860s;
- 5 doll: 1818s-1860s;
- 10 doll: 1820s-1860s;
- 50 doll: 1820s-1860s;
- 100 doll: 1820s-1860s.
The bank issued its own $ 100 notes for half a century – until the National Banking Act banned the issue of private bank notes in 1863.
In the center of the banknote there is a vignette with the image of an antique man in dress, pouring water from an amphora into the sea against the background of a sailing ship.
On the left is a portrait of George Washington.
The inscription on the banknote is standard: “The President, Directors of The New England Commercial Bank promise to pay one hundred dollars to ......... or bearer on demand. NEW PORT 18... RHODE ISLAND'.
The banknote is one – sided, but has on the front side protection in the form of micro-printing, made up of the words 'One Hundred Dollars“: the printing house of New England Bank Note Co used the progressive printing technology of the time” Stereotype Steel Plate', the presence of a patent for which the company is marked on the banknote itself.
My bill was not signed and did not have time to get into circulation – uncirculated: it was probably printed just before the adoption of the National Banking Act of 1863. And once it happened – it is still in the state of 'crisp' - crunches!
After working for more than 100 years, New England Commercial Bank was closed in 1914-not at the request of the state regulator, but being in a liquid state by the decision of its management. But in the town of Newport, there is still another bank with a long 'credit history' - BankNewport, created in 1819 under the name Savings Bank of Newport.
Первая половина XIX века: банкноты частных банков США
100 долларов 1863, Новая Англия, США
Country
:
Соединенные Штаты Америки
Denomination
:
100 доллар
Year
:
1863
Quantity
:
Issuer
:
New England Commercial Bank
Series
:
Valid from
:
Valid till
:
Cancelled
:
Alexander R.
