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20 Dollars New Orleans Canal and Banking Co.
| Issuer | New Orleans Canal and Banking Co. |
|---|---|
| Year | 1850-1859 |
| Type | Local banknote |
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| Obverse description | At left, an allegorical portrait in a circular medallion, flanked by an eagle perched atop the American crest surrounded by agricultural produce; at right, a vignette of a young woman holding a sheaf of wheat. A small portrait vignette of George Washington appears at the lower center. |
|---|---|
| Obverse lettering | 20 20 XX THE New Orleans Canal & Banking Co. will pay Twenty Dollars on demand to______________ or bearer New Orleans_________18__ _______________Cash.ʳ ________________Pres.ᵗ Rawdon, Wright, Hatch & Edson, New-Orleans |
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| Comments |
The Canal and Banking Company was chartered in 1831 specifically to finance the New Orleans Canal — the navigable channel connecting the city's back basin to Lake Pontchartrain — making its note issues unusual in that the bank's commercial rationale was tied to a single infrastructure project rather than general trade finance. By the 1850s the canal itself was struggling against competition from the Pontchartrain Railroad, and the bank had quietly pivoted to conventional deposit and lending operations.
Rawdon, Wright, Hatch & Edson lost their New York business to the American Bank Note Company merger in 1858, which effectively dates any surviving plate work to before that consolidation.