Description

Obsolete Currency..Florida…Tallahassee, FL- Bank of Florida, Payable at David S. Kennedy, New York $10 Mar. 25, 1840 Benice 13 PMG Extremely Fine 40 EPQ, HC.
The Bank of Florida was authorized by the territorial legislature in late 1828 over the Governor’s veto. The Central Bank of Florida acquired the assets of the bank in 1833 but kept its charter alive. The Legislative Council ultimately approved reactivating the the Bank of Florida’s charter in early 1843. Edwin Booth then bought and quickly resold the charter to James Graham who promptly left town with the bank’s assets. On July 4, 1844, the Bank of Florida suspended specie payments and had its charter annulled on March 10, 1845. This note, which features a vignette of an early steamboat and a wagonload of cotton bales passing each other as well as vignettes of Minerva at right and a dog head at bottom center, is hammer cancelled and served as the plate note on page 141 in the Benice Florida catalog.