South Africa 1861 - Montagu Bank 5 Pounds Remainder (Pick S231r)
The Montagu Bank was established in 1861 at a time when local banking was widely regarded as essential to trade and economic development within the Cape Colony. Contemporary accounts note that by the late nineteenth century more than thirty such local banks operated across the colony, each issuing its own paper currency. Montagu was among the smaller but more ambitious of these institutions, notable not only for issuing its own banknotes but for embedding itself physically and socially within the town’s commercial core. Read more →