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Story of Money


Section 12: U.S. banks and money Previous Section | Main Menu | Next Section
To rebuild its credit after the Revolution, the American government decided not to issue more paper money. From 1781 to 1863, banks provided much of the nation’s money. Commerce came to depend heavily on bank notes and bank deposits.
Notes from two banks that couldn’t quite hang on

First Bank of the United States

Second Bank of the United States
 
 
State-chartered banks took over

Bank of New York

Bank of Massachusetts

Bank of North America
 
With no central control, there were many notes and much chaos

Mississippi and Alabama Railroad Company
 
Wildcat banks

Augusta Banking and Insurance Company

Bank of East Tennessee

Central Bank of Alabama
 
This note was probably the reason the South is known as Dixieland

$10 dix note, front

$10 dix note, back