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1 Dollar Dayton Bank - Minnesota
| Issuer | The Dayton Bank |
|---|---|
| Year | 1853-1859 |
| Type | Local banknote |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | MINNESOTA THE DAYTON BANK will pay ONE DOLLAR to the bearer on demand. St. Paul, _____185__ SECURED BY THE PLEDGE OF PUBLIC STOCKS AND REAL ESTATE |
| Reverse description | The reverse shows a show-through of the obverse design rendered in grey-blue tones, with the bank title "THE DAYTON BANK" and a large red "ONE" overprint visible in mirror image, consistent with a blank reverse bearing only the printed-through impression of the face elements. |
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| Comments |
The Dayton Bank was chartered in Dayton, Minnesota Territory — a townsite platted on the Mississippi River in the mid-1850s during the speculative land boom that followed territorial organization. Many Minnesota frontier banks of this period were "wildcat" institutions in everything but legal standing: capitalized on land rather than specie, with redemption offices deliberately inconvenient to note-holders. Whether the Dayton Bank fell into that category is debatable, but the broader Minnesota free banking crisis of 1858–1860 swept away most of its contemporaries.
Danforth, Wright & Co. dissolved in 1858 when its principals merged into the newly formed American Bank Note Company.