5 Dollars, Farmers and Exchange Bank Note, Charleston, South Carolina, 1863
date: label: date made
content: 1863
name: label: maker
content: Toppan, Carpenter, Casilear & Co.
notes: label: Description (Brief)
content: One (1) 5 dollar note
label: Description (Brief)
content: Farmer's & Exchange Bank of Charleston, Charleston, South Carolina, 1863
label: Description (Brief)
content: Obverse Image: An ox cart pulling bales of cotton and a portrait of John C. Calhoun on the right.
label: Description (Brief)
content: Obverse Text: THE FARMERS & EXCHANGE BANK OF CHARLESTON WILL PAY FIVE DOLLARS TO BEARER ON DEMAND / CHARLESTON, S.C. / 4 AUGST 1863 / 5
label: Description (Brief)
content: Reverse Image: Orange geometic designs.
label: Description (Brief)
content: Reverse Text: FARMERS & EXCHANGE BANK / 5
label: Description
content: Toppan, Carpenter, Casilear & Company printed this five dollar note for the Farmers and Exchange Bank of Charleston, South Carolina around 1863. The note bears an image of three slaves picking cotton in fields, while another slave drives a team of oxen pulling bales of cotton. The number 5 is in a medallion in the upper right and left corners; the lower left features a portrait of F. H. Elmore, while John C. Calhoun is on the lower right. The signature line for the bank’s cashier is unsigned; the president’s line is signed by William Whaley. The Farmers and Exchange Bank was established in 1852, and operated until the end of the Civil War in 1865.
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: South Carolina, Charleston
setName: label: See more items in
content: Work and Industry: National Numismatic Collection
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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: 2014.0016.004
label: accession number
content: 2014.0016
label: catalog number
content: 2014.0016.004
label: serial number
content: 1209
objectType: label: Object Name
content: note
physicalDescription: label: Physical Description
content: paper (overall material)
label: Measurements
content: overall: 7.5 cm x 17.5 cm x .01 cm; 2 15/16 in x 6 7/8 in x in