Collection PL

United States 1935 — New Jersey, Borough of Palmyra Municipal Scrip One Dollar Specimen (General Obligation)

This specimen represents an official municipal scrip issued by the Borough of Palmyra, Burlington County, New Jersey, Series of 1935, and denominated One Dollar. It belongs to the later phase of Depression-era local finance, when smaller municipalities continued to rely on interest-bearing scrip to manage routine obligations amid prolonged economic strain and uneven recovery. Municipal scrip differed from tax anticipation notes and formal bond issues in that it functioned as a direct acknowledgment of indebtedness by the issuing municipality, intended for circulation or settlement within the local economy. ... Read more →

United States 1934 — New Jersey, City of Asbury Park Tax Anticipation Note One Dollar Recovery Bond Specimen (March 31 Issue)

This specimen represents an official municipal tax anticipation note issued by the City of Asbury Park, New Jersey, dated March 31, 1934, and denominated One Dollar. Explicitly titled TAX ANTICIPATION NOTE OF 1934 and further identified on the design as a RECOVERY BOND, the instrument forms part of a structured municipal financing program implemented during the depth of the Great Depression, when local governments faced severe cash shortages and unstable revenue collection. Tax anticipation notes were legally authorized short-term obligations designed to transform expected tax receipts into immediate operating funds. ... Read more →

United States 1934 — New Jersey, City of Asbury Park Tax Anticipation Note Five Dollars Recovery Bond Specimen (March 31 Issue)

This specimen represents an official municipal tax anticipation note issued by the City of Asbury Park, New Jersey, dated March 31, 1934, and denominated Five Dollars. Explicitly titled TAX ANTICIPATION NOTE OF 1934 and prominently labeled RECOVERY BOND, the instrument forms part of a coordinated municipal financing program implemented during the most severe phase of the Great Depression, when local governments faced acute revenue shortfalls and escalating insolvency risk. Tax anticipation notes were legally sanctioned debt instruments designed to convert expected tax revenues into immediate operating capital. ... Read more →

United States 1934 — New Jersey, City of Asbury Park Tax Anticipation Note Ten Dollars Recovery Bond Specimen (March 31 Issue)

This specimen represents an official municipal tax anticipation note issued by the City of Asbury Park, New Jersey, dated March 31, 1934, and denominated Ten Dollars. Explicitly titled TAX ANTICIPATION NOTE OF 1934 and further identified on the design as a RECOVERY BOND, the instrument belongs to a class of short-term municipal obligations created during the most acute phase of the Great Depression, when local governments faced severe cash shortages and collapsing revenue streams. Tax anticipation notes were not emergency substitutes or informal scrip, but legally sanctioned debt instruments issued in advance of expected tax receipts. ... Read more →