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1 Pound National Bank
| Issuer | The National Bank Limited |
|---|---|
| Year | 1929-1933 |
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| Shape | Rectangular |
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| Obverse description | The bank title 'THE NATIONAL BANK LIMITED' arches across the top in bold letterpress, flanked by the notations 'Unlimited for Note Issue' and 'Established 1835' in the upper corners. At centre, the bank's heraldic arms vignette shows a crowned shield bearing the Irish harp, supported by two lions rampant, set above a large green guilloche underprint. The promise-to-pay text in italic script reads across the lower half, with the denomination 'ONE POUND' in bold intaglio and the £1 numeral at lower left; red serial numbers appear on either side of the arms. |
|---|---|
| Obverse lettering | Unlimited for Note Issue - Established 1835 The National Bank Limited I Promise to pay the Bearer on Demand One Pound at Belfast For the Directors and Company |
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| Comments |
The National Bank Limited was New Zealand's oldest trading bank, established in 1872 with strong Canterbury provincial backing. By the late 1920s it was operating under increasing strain — the Depression hit New Zealand's pastoral export economy hard, and the bank's rural loan book was badly exposed. These notes were issued in the final years before the bank was effectively absorbed into the government's drive toward a central banking system, which culminated in the Reserve Bank of New Zealand Act of 1933.
Pick 151 is scarce in any grade, largely because private trading bank notes in New Zealand were rapidly withdrawn once the Reserve Bank began operations in August 1934.