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Of course, if the issuer went bankrupt, closed, left town, or otherwise went out of business, the private notes would be worthless. Such organizations earned the nickname of "wildcat banks" for a reputation of unreliability.
When a sufficient quantity of copper coins is received in the colony, of which notice will be given, no private notes or goods will be allowed to circulate. Copper coin for small accounts only ...
Museum Collection of the Art Archives: different types of paper money, such as government notes, revolutionary notes, emergency money (Notgeld), private notes and foreign banknotes.
See also: Coin, Currency, Relief, Circulation, Dollar
 
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