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1 Dollar Jefferson Bank of New Salem, Ohio
| Issuer | Jefferson Bank of New Salem |
|---|---|
| Year | 1817 |
| Type | Log in to see details |
| Value | 1 Dollar (1 USD) |
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| Composition | Log in to see details |
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| Designer(s) | Log in to see details |
| Engraver(s) | Log in to see details |
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| Obverse description | Black letterpress note with a central vignette of General Andrew Jackson rallying his troops at the Battle of New Orleans. Denomination numeral "1" appears at both upper corners with the state name "OHIO" between them. Blanks are left for date, bearer, cashier, and president signatures. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Reverse entirely unprinted, plain white paper with no text, vignette, or ornamental elements. |
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| Comments |
New Salem, Ohio was a small Perry County settlement that never grew into the town its early boosters imagined. The Jefferson Bank chartered there in the mid-1810s was one of dozens of wildcat-adjacent Ohio institutions that proliferated after the state's 1816 banking act loosened chartering requirements — many holding only fractional specie reserves against their note issues. R.G. Harrison & Co. handled engraving and printing for several Ohio frontier banks during this period, operating out of Philadelphia.
Whether this bank met its redemption obligations for long is unclear. Many Ohio notes of this vintage were trading at steep discounts in Philadelphia by 1818.