State Bank at Trenton One Dollar Obsolete Currency - New Jersey 1824

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Obsolete Currency issued by the State Bank at Trenton in 1824. This historic currency was printed by Fairman Draper & Underwood and has an ornate border around it with a vignette of two allegorical women next to a serpent and men on horseback. This item has the signatures of the Company's President, Abner Reedier and Cashier and is over 181 years old. XF+. When the State Bank of Trenton was created by an act of the Legislature passed January 26, 1812, which also established State Banks at Camden, New Brunswick, Morristown and Newark, its first home was in a building on East State Street, near the present entrance to S. P. Dunham and Co. Preparations for a permanent home for the bank were made immediately, and later in 1812, the plot of land at the northwest corner of what is now Warren and Bank Streets was purchased from Robert McNeely, a prosperous tavern owner. and mayor of Trenton from 1814-1832. The followng year, when the building was finished, the bank moved from East State Street to its new quarters. The commissioners of the new bank were Stacy Potts, Peter Gordon, Charles Rice, William Scott and John Smith, who with Elliot Tucker, Reuben D. Tucker, Lucius Horatio Stockton, Evai. Evans, Edward Yard, William Wood, Phillip F. Howell, James S. Wilson and Abner Reedier were the first directors. The first president of the State Bank was .James Jefferson Wilson, well-known editor and publisher of the True American, and Brigadier General and Adjutant General of New Jersey in 1810 and 1814. He was also Quarter-master General in 1821-24. Wilson died in the city in 1824, but the location of his grave is not known. The first cashier of the bank was Charles Gordon who was also prominent in the city and state and held several military offices during his lifetime. It is said that for a time the State Bank had good patronage. but competition from other banks finally proved too strong, and in 1845, the Legislature passed an act to extend the charter of the Bank long enough for it to settle its affairs. Twelve years were given from January 28, 1842, which was forty years after its charter had been authorized. The settling process was conducted in due time and the bank passed out of existence. But the State Bank building, until demolished in 1921, could perhaps lay claim to the distinction of having Housed more enterprises of a varied character than any other landmark of old Trenton.