Catalog
20 Dollars Franklin Bank
| Issuer | Franklin Bank, Boston, Massachusetts |
|---|---|
| Year | 1833-1837 |
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| Printer | New England Bank Note Co. |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | The President, Directors & Co. of THE FRANKLIN BANK promise to pay TWENTY DOLLARS to or bearer on demand BOSTON MASSACHUSETTS. Cash.r Pres.t |
| Reverse description | The reverse is unprinted, showing the plain cream-coloured cotton paper with visible fold lines, age toning, and scattered ink show-through from the obverse intaglio printing; no design elements or lettering are present. |
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| Comments |
The Franklin Bank of Boston operated from 1831 until its closure in 1837 — a casualty of the credit contraction that followed Andrew Jackson's dismantling of the Second Bank of the United States and the subsequent Specie Circular order, which required payment for government lands in hard coin. State-chartered banks across New England found their note redemption demands impossible to meet, and Franklin was among those that did not survive the Panic of 1837.
New England Bank Note Co. was the dominant regional printer of the period, and the watermarked cotton paper here was a meaningful security investment for a bank that would ultimately redeem almost none of its outstanding circulation.