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20 Dollars Silver Certificate of Deposit
| Issuer | Republic of Hawaii, Department of Finance |
|---|---|
| Year | 1895 |
| Type | Standard circulation banknote |
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|---|---|
| Obverse lettering | SILVER CERTIFICATE OF DEPOSIT IWAKALUA Department of Finance REPUBLIC OF HAWAII THIS CERTIFIES, THAT there have been deposited at the HAWAIIAN TREASURY TWENTY DOLLARS IN SILVER COIN PAYABLE TO THE BEARER ON DEMAND. ISSUE OF 1895 - ACT № 19 |
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| Reverse lettering | HAWAIIAN TREASURY REPUBLIC OF HAWAII. MDCCCXCIV UA MAU KE EA O KA AINA I KA PONO CERTIFICATE OF DEPOSIT |
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| Comments |
Hawaii's Silver Certificates of Deposit were issued against silver coin held on deposit by the Department of Finance — a straightforward reserve-backed mechanism, but one that reflected the Republic's precarious position after the 1893 overthrow of Queen Liliuokalani. The new government needed a functioning currency system that would reassure American commercial interests while annexation negotiations dragged on in Washington.
The American Bank Note Company handled all of the Republic's note production. This series is among the last Hawaiian government paper issues before annexation in 1898 rendered the domestic currency obsolete and all outstanding notes were redeemed.