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20 Dollars Franklin Bank
| Issuer | Franklin Bank, Boston, Massachusetts |
|---|---|
| Year | 1833-1837 |
| Type | Local banknote |
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|---|---|
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| Signature(s) | Jeremy Drake and Sam Goodridge |
| Protection type | Watermark |
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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.