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Handwritten banknotes were first
created in Britain in the seventeenth century as a way to promise
repayment
to an individual by depositing a specified amount in the bank for
that person.
These banknotes were a form of credit and could be transferred to
another
party much in the same way modern money is exchanged. Later, each
bank began
printing and issuing its own banknote, which led to hundreds of
different
kinds of notes that could be easily forged.
While still under British rule, American banknotes were secretly
printed.
During the Revolution, Massachusetts banknotes were engraved in
Boston
by Paul Revere. Later, hundreds of private American banks sprung
up, each
with its own distinct note. By the Civil War, there were over 1500
individual
banks. From these banks, major firms were created, such as The
American
Bank Note Co., and the Continental Bank Note Co.
The American Antiquarian Society's Graphic Arts Department has a
large
collection of banknote engravings. The collection is split into
two groups:
The first group, Colonial and Continental Currency, is sorted
originating
colony and by date, and is housed in twenty-three binders. The
second
group includes nineteenth century notes, eighteenth century and
confederate
specimens, and miscellaneous related material, and is arranged by
date
and state or type. It is housed in four boxes. Also, there are a
few boxes
and binders that hold Continental currency.
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A four dollar bank note issued by the Colony of the Massachusetts-Bay on
June 18, 1776
A one dollar bank note issued by the Presidents Bank, Washington,
D.C., in 1852
* Bank Note
Collection
Inventory
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