1 Dollar, Bank of Washtenaw Note, Ann Arbor, Michigan, 1854
date: label: date made
content: 1854
name: label: maker
content: Danforth, Wright & Co.
notes: label: Description (Brief)
content: Ann Arbor Michigan
label: Description
content: The Bank of Washtenaw in Ann Arbor, Michigan, issued this one dollar note in May 1854. The center of the note is decorated with three allegorical images of women—Liberty, Commerce, and Industry—seated under an eagle. The lower left of the note has an image of two farmers with rakes. The note is signed by the bank’s cashier, C. A. Newton, and its president, E. R. Tremaine.
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 Numismatics Collection.
label: Location
content: Currently not on view
place: label: place made
content: United States: Michigan, Ann Arbor
setName: label: See more items in
content: Work and Industry: National Numismatic Collection
label: See more items in
content: American Enterprise
label: See more items in
content: Coins, Currency and Medals
dataSource: label: Data Source
content: National Museum of American History
identifier: label: ID Number
content: 2014.0016.005
label: accession number
content: 2014.0016
label: catalog number
content: 2014.0016.005
label: serial number
content: 3203
objectType: label: Object Name
content: note
physicalDescription: label: Physical Description
content: paper (overall material)
label: Measurements
content: overall: 7.1 cm x 18 cm x .01 cm; 2 25/32 in x 7 3/32 in x in