Private Bank Issues

Lot 3024       Private Bank Issues

Estimate $30,000
Bid at live.noble.com.au

GOVERNMENT OF NEW SOUTH WALES, (Sydney), Treasury note, one pound, not dated, but issued c.1893, numbered No.2, on paper, signatures by Colonial treasurer F. Kirkpatrick and for Accountant E.Hanson, no watermarks, imprint of 'Sydney: Charles Potter, Government Printer', vignette of Royal Arms with supporters in centre, '1' in circles in opposite corners and in centre of base, New South Wales shield in other two corners, all within rectangular spiral border, states 'TREASURY NOTE Government of New South Wales, Issued and redeemable under the provision of 56 Vic No.17, ONE POUND STERLING', plain on back, black on white, (Percy J. Marks, 'The History of Paper Currency in Australia' RAHS Vol. V, 1919 [p.148, and illustration opposite p.145], Vort-Ronald, Fig.196, [p.186 an issued note], comments p.186-8 on bank, also Tomlinson p.110 a cancelled note illustrated). Nearly as issued, minor pin-hole on upper left corner and several minor creases, otherwise extremely fine and extremely rare.

All banks in Sydney in 1893 closed their doors with the exception of the Union Bank, The Bank of Australasia, the Bank of New South Wales and the City Bank of Sydney. As the banknotes from all the failed banking institutions had no value and emergency notes issued could not be trusted there resulted in a total loss of confidence by the public in banknotes. The Government of New South Wales stepped in and issued Treasury Notes (backed by the Government) as an emergency issue. Only one pound notes were issued although other denominations were projected to be printed. The act for the note issue was repealed in April 1894. Numbers 1 (Cancelled, and formerly in Mitchell Library but stolen 1978), 4, 5 and 8, and this note are the known low numbers, other higher numbers are known. Percy Marks (cited above) commented that in June 1917 Treasury Note No.1 the first issued was presented to the Treasury for payment and it was presented to the Mitchell Library by the Minister (p.148). As a method of control to prevent forgery the signatures are in different coloured ink, blue and green (this the later colour was very limited and used generally in Government circles only). This note number 2 is the lowest number that can be obtained legally and held by a collector, and as it is a government issued note it can be rightfully compared to the number 1 serial note for the ten shilling 1913 Collins/Allen issue.