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20 Dollars - The Merchants and Planters Bank of Magnolia
| Issuer | The Merchants and Planters Bank of Magnolia |
|---|---|
| Year | 1833 |
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| Value | 20 Dollars 20 USD = CHF 16 |
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| Obverse description | Two classical male figures flank the note at left and right as side vignettes, with a central vignette of a figure atop cotton bales. Roman numeral "XX" counters appear in two panels, with denomination numerals "20" in each corner. The promise-to-pay text is rendered in script and letterpress, dated Magnolia, Florida, 12 November 1833. |
|---|---|
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| Reverse description | The reverse shows a mirror bleed-through impression of the obverse design with no independently printed elements, the paper remaining unprinted and plain. |
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| Comments |
Magnolia, Florida was a short-lived settlement on the St. Marks River that effectively ceased to exist once the nearby town of Port Leon began drawing commerce away in the late 1830s. The Merchants and Planters Bank of Magnolia was one of several territorial Florida banks chartered during a brief, chaotic window of speculative banking activity — the same period that produced the Union Bank of Tallahassee and the Bank of Pensacola, both of which collapsed spectacularly by the early 1840s.
Whether this institution ever operated with real capital behind it is a legitimate question. Florida's territorial banking boom was almost entirely debt-financed, with land pledged as security and bonds sold to European investors who had little visibility into actual solvency.