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Obsolete Notes & Miscellaneous Items > Pennsylvania

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West Chester, The Bank of Chester County $1
Grade: VG    

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Following the Panic of 1837 the state of Pennsylvania was in serious financial straits, due to the debt incurred in the building of the canal system. In 1842 it reached it's height. The answer was a state loan for five years at five percent. The banks that loaned the state money could issue notes called 'Relief Notes' in the denominations of $1, $2 and $5. This note, with minor flaws, is one of these notes.

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