2 Dollar Bank of Florida Note, 1840s
date: label: date made
content: 1845-03-01
name: label: maker
content: unknown
notes: label: Description
content: The Merchants and Planters Bank of Florida produced this two dollar note during the 1840s. The Merchants and Planters Bank of Florida was founded in 1832 in Magnolia, Florida, but rechartered in 1834 with the right to establish branches in St. Joseph and Tallahassee. Rawdon, Wright, Hatch & Edson, a well-known 19th-century printing and engraving firm, printed this note. The note has an allegorical image of Moneta on the left with a cotton bush on the right. The note is made out to James K. Polk; the cashier signature is “H. Clay” and the president’s signature line reads “M. Van Buren.” The signatures are likely a political statement about the 1844 election that saw James K. Polk win the Democratic Party nomination from Martin Van Buren to defeat Whig candidate Henry Clay in the general election.
label: Description
content: From 1790 to 1863, states and private banks issued their own currency to supply capital in a young nation without a national currency. This currency was backed by the hard money the banks had on deposit, and was only used locally where the bank and its operators were trusted in the community. However, banks often oversupplied notes, and this overextension caused bankruptcy among private and state banks when financial panic struck, particularly in 1837. Currencies from these failed banks are known as “obsolete bank notes” or “broken bank notes,” and several are held in the National Numismatic Collection.
label: Location
content: Currently not on view
place: label: place made
content: United States: Florida
setName: label: See more items in
content: Work and Industry: National Numismatic Collection
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content: American Enterprise
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content: Coins, Currency and Medals
creditLine: label: Credit Line
content: Chase Manhattan Bank
dataSource: label: Data Source
content: National Museum of American History
identifier: label: ID Number
content: 1979.1263.01840
label: accession number
content: 1979.1263
label: serial number
content: 11988
label: collector/donor number
content: CM01491
label: catalog number
content: 79.112.CM01491
objectType: label: Object Name
content: note
physicalDescription: label: Physical Description
content: paper (overall material)
label: Physical Description
content: ink (overall material)
label: Measurements
content: overall: 8.2 cm x 18.4 cm x .01 cm; 3 7/32 in x 7 1/4 in x in