Description

OBSOLETE CURRENCY…..

Moriah, NY- Farmers & Mechanics Union of Moriah 50¢ Nov. 20, 1862 Harris H7 Remainder PMG Extremely Fine 40.
Based on several other organizations with similar or identical names from other locations both inside and outside of New York, this note appears to be the issue of an agricultural society. The signer, J. Bishop, is likely Jared Bishop who is listed as a farmer in the 1860 Federal census. Bishop was actively involved in local enterprises and certainly could have been a candidate to serve as president of such an organization. The text suggests that the organization had some type of store, perhaps to serve the needs of members, where its notes could be redeemed for either goods or current bank notes. While most of this is educated conjecture, it is safe to say that this is not a bank issue as indicated in Harris as the reliable banking reference, Historical Directory of the BANKS of the STATE of NEW YORK, does not list any banks located in Moriah, NY. The note depicts an allegorical female standing by a column with the inscription Union. Although Harris lists this note as R-4 (26-50 examples known) this is only the third note of any kind that we have offered from this issuer and the first 50¢ denomination.