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2 Dollars State Bank of Michigan

Emittente State Bank of Michigan
Anno 1859
Tipo Local banknote
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Descrizione del dritto At left, a large intaglio vignette presents a Native American warrior on horseback in pursuit of a buffalo, with additional mounted figures engraved in fine detail across the background; an ornate red guilloche panel enclosing the numeral '2' occupies the upper-left corner, surmounted by the bank title 'THE STATE BANK OF MICHIGAN' and the 'LYMAN'S PROTECTION' scale legend in bold letterpress. The right half carries the obligation text 'On demand TWO DOLLARS Will be paid to bearer by the STATE BANK OF MICHIGAN', a large decorative octagonal counter '2' at upper right, and the security clause 'SECURED BY PLEDGE OF PUBLIC STOCKS' at the base. Spaces for Register, Cashier, and President signatures appear beneath the obligation text, with the imprint of the American Bank Note Company, Detroit.
Legenda del dritto THE State Bank OF MICHIGAN, LYMAN'S PROTECTION. Bank Note on the right end measuring: $1. One Dollar, One third the length of the paper $2. Two Dollars, One half $3. Three Dollars, Two thirds $5. Five Dollars, Three fourths AMERICAN BANK NOTE COMPANY DETROIT, __ 18_ On demand TWO DOLLARS Will be paid to bearer by the STATE BANK OF MICHIGAN. A / NO. SECURED BY PLEDGE OF PUBLIC STOCKS
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Commenti

The State Bank of Michigan was a product of the state's 1837 free banking law, which allowed almost anyone to establish a bank provided they deposited approved securities as backing. The system produced hundreds of short-lived institutions and an ocean of depreciated paper — Michigan became one of the better-known examples of antebellum wildcat banking excess, though by 1859 tighter regulation had thinned the field considerably.

American Bank Note Company's Detroit operation handled this issue, a detail worth noting because ABNC's Detroit work from this period is less thoroughly documented than its New York output. The dimension scale security device was a deliberate countermeasure against photographic reproduction, then an emerging threat to currency integrity.

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