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5 Dollars The Bank of the Republic - Rhode Island
| Issuer | Bank of the Republic, Providence, Rhode Island |
|---|---|
| Year | 1836 |
| Type | Local banknote |
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|---|---|
| Obverse lettering | THE BANK OF THE REPUBLIC Will pay FIVE DOLLARS to bearer on demand. PROVIDENCE ______18___ ________Cash.ʳ ___________Pres.ᵗ STATE OF RHODE ISLAND AMERICAN BANK NOTE COMPANY, NEW YORK Jocelyn, Draper, Welsh & Co |
| Reverse description | The reverse is largely plain on aged paper stock, with the word FIVE printed in large red serif capital letters at lower center in a laterally mirrored orientation, serving as a denomination underprint visible through the note. A small mirrored red letter 'G' appears at upper left. |
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| Comments |
The Bank of the Republic operated out of Providence during the mid-1830s boom in Rhode Island banking, a period when the state's loose incorporation laws made chartering a bank considerably easier than in neighboring Massachusetts or Connecticut. Dozens of institutions emerged in this window, many undercapitalized and short-lived. Whether this particular bank survived long enough to redeem its notes at face value is not firmly established in the record.
The printer credit — Jocelyn, Draper, Welsh & Co — reflects an early partnership name used by what would consolidate into the American Bank Note Company in 1858. Notes bearing that transitional imprint are sometimes misattributed to the later firm; the plate was engraved and printed well before the formal merger.