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2 Dollars Mechanics Savings and Loan Association

Emittent Mechanics Savings & Loan Association
Jahr 1862
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Nennwert 2 Dollars
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Vorderseitenbeschreibung Printed in orange-red letterpress on white paper, the obverse carries bold ornate guilloche underprint numerals '2' repeated across the field as the primary decorative underprint. The institution name 'MECHANICS Savings & Loan Association.' appears in bold letterpress at the top, below which the date 'Savannah, May 31st, 1862' is set in cursive script, followed by body text certifying a two-dollar deposit bearing four per cent interest payable to bearer in Treasury Notes. The denomination 'TWO DOLLARS' is repeated in large vertical letterpress along both the left and right borders, with a manuscript presidential signature in blue ink at the lower centre.
Vorderseitenlegende $2. MECHANICS Savings & Loan Association. $2.
Savannah, May 31, 1862.
This Certificate Showeth, That Two Dollars have been deposited
bearing Four per cent. Interest, after thirty days notice, payable to bearer
on return of this Script, in Treasury Notes.
No. Pres't.
$2. TWO DOLLARS. $2. on the left side
TWO DOLLARS. on the right side
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Anmerkungen

Mechanics Savings & Loan Association was one of dozens of Southern mutual savings institutions that resorted to issuing their own scrip when specie vanished from circulation in the early Confederate war years. By 1862, small-denomination coin had effectively disappeared from Georgia commerce, hoarded the moment hostilities made its future value uncertain. Institutions like this one stepped into that vacuum not as banks of issue in any formal sense, but out of sheer transactional necessity.

Savannah-printed scrip of this period varies enormously in quality and survival rate. Much was redeemed quickly and destroyed; the rest was often lost to the city's considerable wartime disruption, including Sherman's occupation in December 1864.

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