Broken Bank Notes & Wildcat Issues: Ready Funds for Westward Expansion
Between 1837 and 1866, a period known as the “Free Banking Era,” lax federal and state banking laws permitted virtually anyone to open a bank and issue currency. Paper money was issued by states, cities, counties, private banks, railroads, stores, churches, and individuals.
The term “wildcat bank” referred to the remote locations of some banks, more accessible to wildcats than people. When a bank “went broke,” the currency they issued became worthless. The era ended with the passing of the National Bank Act of 1863.
Gallery
Private Bank Notes
Private Bank Note, Drover’s Bank, Salt Lake City, Utah, $3, 1856
Private Bank Notes
Private Bank Note, Mechanics Bank, Tennessee, $10, 1854
Private Bank Notes
Private Bank Note, Stonington Bank, Connecticut, $2, 1858-1865
Private Bank Notes
Private Bank Note, Bank of North America, Pennsylvania, $1, 1862
Private Bank Notes
Private Bank Note, Bank of Desoto, Nebraska, $3, 1863
Private Bank Notes
Private Bank Note, Allegany County Bank, Maryland, $5, 1860
Private Bank Notes
Private Bank Note, Bank of East Tennessee, $5, 1860
Private Bank Notes
Private Bank Note, Peoples’ Bank of Patterson, New Jersey, $8, 1837-1872
Private Bank Notes
Private Bank Note, Brownville Bank, Nebraska, $10, 1857
State Issues
State Issue, Louisiana, $5, 1862
State Issues
State Issue, Mississippi, $3, 1862
State Issues
State Issue, Florida, $50, 1861
State Issues
State Issue, Republic of Texas, $50, 1840
State Issues
State Issue, Virginia, $50, 1862
City & County Issues
City Issue, Village of Salem, New York, 10 cents, 1862
City & County Issues
County Issue, Parish of Iberville, Louisiana, 25 cents, 1862
City & County Issues
City Issue, Village of Newburgh, New Hampshire, 5 cents, 1862
City & County Issues
City Issue, Newark, New Jersey, 15 cents, 1862
City & County Issues
County Issue, County of Lowndes, Alabama, 25 cents, 1866
City & County Issues
County Issue, Montgomery County, Pennsylvania, $1, 1865
Private Issues
Private Issue, Phoenix Bank, Connecticut twelve and one-half cents, 1816
Private Issues
Private Issue, Mathews and Brothers Druggists, New York, 2 cents, 1861-1863
Private Issues
Private Issue, Delmonico’s Restaurant, New York, 15 cents, 1862
Private Issues
Private Issue, Peabody Ladies Furnishings, Massachusetts, 3 cents, 1862-1863
Private Issues
Private Issue, Young’s Hotel, Massachusetts, 10 cents, 1862
Private Issues
Private Issue, Hyson Tea, New York, 25 cents, 1862
Private Issues
Private Issue, Parker House, Massachusetts, 25 cents, 1862
Private Issues
Private Issue, Haverhill Association, Massachusetts, 25 cents, 1862
Private Issues
Private Issue, New York, 25 cents, 1862
Private Issues
Private Issue, Phenix Manufacturing Company, Pennsylvania, 50 cents, 1837
Transportation Issues
Transportation Issue, Delaware Bridge Company, New Jersey, $1, 1836-1841
Transportation Issues
Transportation Issue, Tallahassee Rail Road Company, Florida, $1, 1860-1865
Transportation Issues
Transportation Issue, Indiana Plank Road Company, 1850-1859
Transportation Issues
Transportation Issue, Newark Plank Road Company, Ohio, $1, 1860
Transportation Issues
Transportation Issue, Dubuque Western Railroad Company, Iowa, $5, 1858
Transportation Issues
Transportation Issue, Mississippi & Alabama Railroad Company, $5, 1838
Transportation Issues
Transportation Issue, Chesapeake & Ohio Canal Company, Maryland, $10, 1840
Transportation Issues
Transportation Issue, South Carolina Rail Road Company, 1873-1879