1 Dollar The State Bank - Massachusetts

The State Bank of Boston operated under a Massachusetts charter and issued notes across a remarkably long window for a state-chartered institution — surviving well into the National Banking era, when most contemporaries had either converted or folded. Massachusetts state banks that remained unchartered as national banks after 1865 faced a punishing 10% federal tax on their note circulation, effectively killing most of them. That The State Bank continued issuing through the 1870s suggests it had either shifted its business model away from note circulation or found some operational niche worth protecting.

Boston-printed issues from this period were commonly produced by Rawdon, Wright, Hatch & Edson or its successor, the American Bank Note Company, though confirmation of the specific engraver for this series would require plate letter or imprint verification on the note itself.