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10 Dollars The Bank of South Carolina
| Issuer | Bank of South Carolina |
|---|---|
| Year | 1857 |
| Type | Local banknote |
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|---|---|
| Obverse lettering | THE BANK OF SOUTH CAROLINA Will pay TEN DOLLARS on demand to ________ or bearer. CHARLESTON_______________. _______Cash.r _________Pres.t Rawdon, Wright, Hatch & Edson, New York |
| Reverse description | The reverse is essentially unprinted save for a large red letterpress counter reading TEN in mirror image at center, serving as a denomination underprint visible from the face side. |
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| Comments |
The Bank of South Carolina, chartered in Charleston in 1835, was among the more conservatively run antebellum Southern institutions — it maintained specie payments through periods when most regional banks suspended entirely. By 1857, the year of this note, the bank was navigating the Panic of 1857, a deflationary crisis triggered by the collapse of the Ohio Life Insurance and Trust Company that hit Northern banks harder than Southern ones, partly insulating Charleston institutions.
Rawdon, Wright, Hatch & Edson dissolved in 1858, absorbed into the newly formed American Bank Note Company — making this note from their final operational year.