Section 12: U.S. banks and money Previous Section | Main Menu | Next Section
To rebuild its credit after the Revolution, the American government decided not to issue more paper money. From 1781 to 1863, banks provided much of the nation's money. Commerce came to depend heavily on bank notes and bank deposits.
Notes from two banks that couldn't quite hang on
note from the First Bank of the United States
First Bank of the United States		 note from the Second Bank of the United States
Second Bank of the United States		  
 
State-chartered banks took over
state-chartered Bank of New York note
Bank of New York		 state-chartered Bank of Massachusetts note
Bank of Massachusetts		 state-chartered Bank of North America note
Bank of North America
 
With no central control, there were many notes and much chaos
Mississippi and Alabama Railroad Company note
Mississippi and Alabama Railroad Company
 
Wildcat banks
Augusta Banking & Insurance Company note
Augusta Banking and Insurance Company		 Bank of East Tennessee note
Bank of East Tennessee		 Central Bank of Alabama note
Central Bank of Alabama
 
This note was probably the reason the South is known as Dixieland
$10 dix note
$10 dix note, front		 $10 dix note
$10 dix note, back