FRtR > Essays > Central Banking in the US > National banking Acts of 1863 and 1864 > National Bank Note
A Brief History of Central Banking in the United States
National Bank Note
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This 1929 note was issued by the Atlanta and Lowry National Bank.
The writing over the red seal reads, "Redeemable in lawful money of
the United States at United States Treasury or at the bank of issue."
At the time, lawful money referred to gold coin, silver
coin, gold or silver certificates, or United States notes. The reverse
is the same as modern $20 Federal Reserve notes.
The writing over the
portrait of Andrew Jackson reads, "National currency secured by United
States bonds deposited with the Treasurer of the United States of America."
This refers to the requirement of the National Banking Acts that the
amount of currency a national bank could issue be based on the market
value of Treasury bonds on deposit with the Comptroller of the
Currency.
Who knows? Perhaps this very bill was used to buy a ticket to
the premeir of Gone With the Wind.
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