Proof sheet for $10-10-10-20 of the Snell NB of Winter Haven, FL, 1913
date: label: Date made
content: 1913
name: label: issuing authority
content: Snell NB of Winter Haven, FL
notes: label: Description
content: This proof sheet for $10-10-10-20 national bank notes was approved on May 19, 1913 by the Director of the Bureau of Engraving and Printing. Congress authorized a new Series of 1902 when the twenty year period for the Series of 1882 ended. The new design for the faces of the ten dollar bill showed the portrait of President William McKinley who had been shot at the Pan American Exposition in Buffalo and had died in September 1901. The new face of the twenty dollar bill depicted Hugh McCulloch, Comptroller of the Currency during the Civil War between 1863 and 1865. McCulloch also served as Secretary of the Treasury from 1865 to 1869, and again from 1884 to 1885.
label: Description
content: The financial Panic of 1907 demonstrated that there was not enough currency in circulation. Congress passed the Aldrich-Vreeland Act in May 1908 to address that crisis for the period from 1908 until the law expired in June 1915. Congress relaxed the requirement that participating banks deposit only U.S. bonds with the Treasurer of the U.S. as security for the national bank notes which they issued. During this period from 1908 to 1915, the national bank notes displayed the legend "Secured by United States bonds or other securities" near the top of the face of the notes. This move by Congress expanded the money supply by enabling banks to issue more notes if they chose to take advantage of the relaxed requirement. When the law expired in June 1915, the legend on the notes was supposed to return to "Secured by United States bonds deposited with the Treasurer of the United States".
label: Description
content: Don Kelly in the third edition of his book National Bank Notes(1997) reports that this bank was organized in April 1913 and went into receivership in January 1933. There are no known examples among collectors of national bank notes for this bank.
label: Location
content: Currently not on view
place: label: Place Made
content: United States: Florida, Winter Haven
label: Associated Place
content: United States: Florida, Winter Haven
setName: label: See more items in
content: Work and Industry: National Numismatic Collection
label: See more items in
content: Coins, Currency and Medals
creditLine: label: Credit Line
content: U.S. Department of the Treasury. Bureau of Engraving and Printing
dataSource: label: Data Source
content: National Museum of American History
identifier: label: ID Number
content: NNC.297219.42
label: accession number
content: 297219
label: catalog number
content: NU*297219.42
objectType: label: Object Name
content: Certified Proof
physicalDescription: label: Measurements
content: overall: 13 3/8 in x 8 in; 33.9725 cm x 20.32 cm