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5 Pounds Barry & Nephews

Issuer Barry & Nephews
Year 1850-1859
Type Local banknote
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Obverse lettering BARRY & NEPHEWS
SWELLENDAM
On Demand We Promise to pay the Bearer at our Office here, or at CAPE TOWN, the Sum of FIVE POUNDS Sterling.
Swellendam, 185
Five
Royston & Brown, London
HARD STEEL PLATE
Reverse description Reverse is blank, without printing or ornamentation.
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Comments

Barry & Nephews was a Hobart-based merchant house, and this note belongs to a generation of pre-banking-reform private issues that circulated in Van Diemen's Land before the colonial banking sector consolidated enough to crowd out trader-issued paper. Merchant notes like this one operated on the issuer's commercial reputation alone — no charter, no government backing, no reserve requirement.

Royston & Brown produced a number of antipodean private issues from London during this period, working from engraved plates shipped or carried to the colony for local signing and issue. The physical distance between printer and issuer created obvious opportunities for fraud, and colonial courts dealt with several such cases in the 1850s.