100 Dollars, Quassaick Bank, New York, United States, 1854
date: label: date made
content: 1854
name: label: maker
content: Bald, Cousland & Co.
notes: label: Description
content: Bald, Adams & Company of New York printed this 100 dollar proof for the Quassaick Bank of Newburgh, New York, around 1854. The Quassaick Bank was formally adopted on March 31, 1852, taking the aboriginal name of the town of Newburgh. The center of the note has an image of Native Americans pointing toward an industrialized Newburgh. The left side has an image of a man and a boy holding rifles, hiking up a mountain. The punches on the signature lines for the bank’s cashier and president made it unusable. This note is a proof done by Bald, Adams & Company, printed to confirm that the design was suitable for mass printing.
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,” there are many held in the National Numismatic Collection.
label: Location
content: Currently not on view
place: label: place of issue
content: United States: New York, Newburgh
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: Richard S. Schlein
dataSource: label: Data Source
content: National Museum of American History
identifier: label: ID Number
content: 1992.0281.0524
label: catalog number
content: 1992.0281.0524
label: accession number
content: 1992.0281
objectType: label: Object Name
content: note
physicalDescription: label: Physical Description
content: paper (overall material)
label: Measurements
content: overall: 8 cm x 18 cm x .01 cm; 3 5/32 in x 7 3/32 in x in