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5 Dollars Eastern Bank of Alabama
| Issuer | Eastern Bank of Alabama |
|---|---|
| Year | 1858 |
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| Composition | Log in to see details |
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| Engraver(s) | Log in to see details |
| In circulation to | 1868 |
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| Obverse description | Large numeral 5 appears in each upper corner, flanking a central vignette of a mule team hauling a cotton-laden wagon. In the lower right corner, a vignette shows a cotton bale being weighed on a scale, while a portrait of George Washington occupies the lower left corner. The note is issued by the Eastern Bank of Alabama, payable at Eufaula, with the imprint of the American Bank Note Company at the foot of the note. |
|---|---|
| Obverse lettering | 5 No. C THE Eastern Bank of Alabama Will pay FIVE DOLLARS on demand to the Bearer EUFAULA ________ 18__ AMERICAN BANK NOTE COMPANY |
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| Comments |
The Eastern Bank of Alabama was chartered in Eufaula, a prosperous cotton-trading town on the Chattahoochee River, and operated during the final years before Alabama state banks collapsed under the pressure of secession-era finance. By 1861, most Alabama bank notes were trading at steep discounts or being refused outright as the state moved toward Confederate currency systems.
ABNC's involvement is significant here — their New York engraving work was among the finest available to Southern banks before the war severed those commercial relationships entirely. After 1861, no Alabama institution could place printing orders with a New York firm.