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1 Dollar Dayton Bank - Minnesota
| Issuer | The Dayton Bank |
|---|---|
| Year | 1853-1859 |
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| Size | 185 × 73 mm |
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| Obverse description | At left, a vignette of two Native American figures, one standing and one kneeling. The central vignette portrays a male portrait identified as Mr. Dayton, flanked on one side by a young woman holding an infant and on the other by an older woman with three children. At lower right, a smaller vignette shows a man on horseback herding cattle. A bold red "ONE" overprint is applied across the face of the note. |
|---|---|
| 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 |
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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.