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10 Dollars Merchants and Planters Bank - Savannah
| Issuer | Merchants and Planters Bank, Savannah, Georgia |
|---|---|
| Year | 1860 |
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| Value | 10 Dollars (10 USD) |
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| Obverse description | Black letterpress and red underprint. Denominational counters in red at upper left and upper right corners. Central vignette portrays a female figure pausing from wheat harvesting to gaze back toward a rural homestead, rendered in fine intaglio. A portrait bust of a man occupies the lower left, while the lower right bears an allegorical vignette of a shrine to the Constitution draped with ribbons inscribed "Wisdom, Justice, and Moderation." |
|---|---|
| Obverse lettering | STATE OF GEORGIA THE MERCHANTS AND PLANTERS BANK Will pay TEN DOLLARS to bearer on demand. SAVANNAH. June 1, 1860. _________Cash. __________Pres. AMERICAN BANK NOTE COMPANY. |
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| Comments |
The Merchants and Planters Bank of Savannah was chartered by the Georgia legislature and operated during the final years before secession made Northern-printed banknotes a political liability for Southern institutions. This note dates to 1860, when the bank was still ordering plates from the American Bank Note Company in New York — a relationship that would become untenable within months. After Georgia seceded in January 1861, many Georgia banks scrambled to source printing from Southern firms, making pre-secession ABNCo issues like this one a narrow window in the bank's history.
Georgia state law required banks to maintain specie reserves, but suspension came quickly in 1861 regardless.