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2 Dollars Mechanics Savings and Loan Association
| Issuer | Mechanics Savings & Loan Association, Savannah, Georgia |
|---|---|
| Year | 1864 |
| Type | Log in to see details |
| Value | 2 Dollars |
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| Obverse description | Typeset scrip note printed in blue-grey ink on white paper within a thin double-rule rectangular border; the issuer's name appears in two lines of display type across the top, with the bold numeral "$2" at upper right and the denomination spelled out as "TWO DOLLARS" repeated in the vertical side panels. The body of the note carries italic text in three lines setting out the deposit terms — Two Dollars bearing 4% interest payable to bearer in Confederate Treasury Notes after thirty days' notice — below a centered place-and-date line reading "Savannah, Feb. 22, 1864". The serial-number field "No." occupies the lower left, a small ornamental floral device appears at lower center, and the manuscript signature of the President is placed at lower right. |
|---|---|
| Obverse lettering | MECHANICS Savings & Loan Association. $2 Savannah, Feb. 22, 1864 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 |
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| Comments |
Mechanics Savings & Loan Association was one of several Savannah institutions issuing fractional scrip during the Confederacy's final years, when small-denomination coinage had all but vanished from circulation. By 1864, faith in Confederate currency was collapsing rapidly — the February 1864 currency reform had already wiped out a third of existing note values — yet local businesses and mutual associations kept printing their own paper simply to make change.
Savannah's occupation by Sherman in December 1864 rendered virtually all such scrip worthless overnight. Surviving examples were typically discarded rather than redeemed, which is why most extant copies show heavy handling from their brief, frantic months of actual use.