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1 Dollar Mechanics & Traders Bank
| Issuer | Mechanics & Traders Bank, New Orleans |
|---|---|
| Year | 1873 |
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| Composition | Log in to see details |
| Size | 180 × 85 mm |
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| Obverse description | Printed in green and black on white cotton paper, the obverse carries a central intaglio vignette of a steam locomotive at a station with figures on the platform, executed in fine line engraving characteristic of the American Bank Note Company. To the right, an oval guilloche frame encloses a bust portrait of a young woman in classical drapery, with a second allegorical female figure holding a staff positioned at the lower right corner. Denomination counters with ornate numeral "1" appear at the lower left and lower right, while a green lathe-work underprint reading "ONE" spans the lower portion of the note. |
|---|---|
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| Reverse lettering | CERTIFICATE OF DEPOSIT PAYABLE IN CURRENCY AT MECHANICS & TRADERS BANK NEW ORLEANS |
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| Comments |
The Mechanics & Traders Bank was one of the few New Orleans institutions to survive both the Civil War and the brutal contraction of Louisiana's banking sector that followed Reconstruction-era legislation. By 1873, the bank was operating under severe strain — that year's national financial panic, triggered by the collapse of Jay Cooke & Company in September, sent credit markets into freefall and forced dozens of Southern banks to suspend specie payments almost immediately.
American Bank Note Company's engraved work on Louisiana state-chartered issues from this period is among the finest commercial printing of the era, though what makes this particular note worth attention is its survival: most 1873 New Orleans bank paper was redeemed, cancelled, or simply destroyed during the liquidity crisis that followed.