United States 1838 - Olney, Alabama 25 Cents, 50 Cents, 1 Dollar Uncut Sheet Remainder
Each note bears a promise to pay George Washington or bearer in bills of the Bank of the State of Alabama, or its branches, once the aggregate amount of five dollars was presented. This conditional redemption structure reflects the widespread use of fractional and small denomination scrip during the late 1830s, when shortages of hard money and economic instability following the Panic of 1837 forced communities to rely on paper substitutes for everyday transactions. Read more →