Early Paper Money of America / Connecticut / 1792, etc. Union Bank in New London

Early Paper Money of America (NNP Edition)|

Organized on Mar. 5, 1792 as a partnership under the name, Bank of New London and Norwich, the Union Bank in New London was incorporated on May 30, 1792. Its capital was to be between $50,000 and $100,000 divided into shares of $100 each. Its debts including bank notes were not to exceed one and one-half times its capital plus its specie deposits. The $5 note of its original issue was counterfeited, causing an elimination of that denomination on June 30, 1795. These notes were signed by Jedediah Huntington, president, and John Hallam, cashier.

1792:
$1
$5 ▷CF◁
$10 
$20

June 30, 1795:
$2
$4
$6
$8