Drachmas, Doubloons and Dollars: The History of Money

Manhattan Money

Early Notes From New York Banks

In the 19th century, local banks issued their own notes. They are an interesting source for the history of downtown New York, as they often feature local buildings or attractions. The denominations of the notes are sometimes unusual, such as the 3 dollar or the 400 dollar note.

3 dollar note issued by the Bank of New York in the 1850s, with an illustration of a beehive. The Bank was established by Alexander Hamilton in 1784. In 1789, as Secretary of the Treasury, Hamilton negotiated the first loan for the newly independent United States government—a loan of $200,000 from the Bank of New York.

Proof of a 400 dollar note issued by the Bank of New York in the 1800s.

1 dollar note issued by the Chemical Bank in 1859. In 1823, the New York Chemical Manufacturing Company was founded and, by 1824, was carrying out banking practices. In 1844, the company was reorganized as The Chemical Bank of New York. In 1996, Chemical Bank merged with Chase Manhattan Bank.

1 dollar note issued in 1861 by the Park Bank depicting City Hall Park.

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Proof of a 50 dollar note issued by the Leather Manufacturers' Bank in the 1800s, depicting a cherub sharpening a tool on a grindstone. This bank was established in 1832 and, through a series of mergers and name changes, became part of Chase Manhattan Bank by 1996.