1830s $2 LENAWEE COUNTY BANK PALMYRA MICHIGAN OBSOLETE NOTE Michigan Safety Fund

Classic example of a well-worn very much circulated banknote from the wild-cat era of American banking, this one from the pioneer town of Palmyra, Michigan, by an issuer named Lenawee County Bank. Printed on improbably thin stock, this example, with its odd engraved vignettes, partially printed with the bearer's name, date and signatures in manuscript. The 1830s $2 LENAWEE COUNTY BANK PALMYRA MICHIGAN OBSOLETE NOTE, with its evocative classical designs, provides a window into an ambitious period of American expansion and economic development. This banknote was issued just as Michigan was joining the Union in 1837, on the heels of Native American removal and hopeful frontier settlement. The promise of financial backing by a statewide "safety fund" reflect lofty ambitions to replicate Eastern success and establish thriving commerce in Michigan's rural counties-- implying a level of accountability and stability to frontier banking in Michigan that turned out to be insufficient. By the Panic of 1837, this banknote was obsolete, as the network of small rural banks and their paper currencies collapsed, affected by land speculation and irresponsible lending. This single fragile currency, evoking Michigan's untamed landscapes and aspirations in the 1830s, encapsulates how the tangible artifacts of financial history can vividly capture snapshots of time and place, when human aspirations, forged in an amalgam of ambitious determination and insatiable greed, shaped the trajectory of commerce in eras of dramatic change.

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Seller Info

Waterbury Auction Gallery

497

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Denis | (860) 542-5813

Pickup Details

Waterbury Auction Gallery

1691 Thomaston Ave, Waterbury CT 06704

When to Pickup

By Appointment Only

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