Private Promissory Notes

Lot 2745    SESSION 9 - 4.30PM Wednesday 30 July    Private Promissory Notes

Estimate $1,200
Bid at live.noble.com.au
SOLD $800

BANK OF IN DEPEND ENCE (OR MELBOURNE), Melbourne, one pound, currency note, February 1857, (date printed), numbered A125247, printed signature of Director, James W. Howarth (?) San Francisco, and hand signed by Agent, Elias L. Venuzuila (?), printed on unwatermarked paper, note described as 'BANK OF In Depend Ence MELBOURNE' at top, with imprint on centre of bottom, 'H. WATKINS, ENG. NEW YORK', with vignette of Chinese couple and store with various labels, ONE in oval tablet around legend 'The best price for returning gold diggers implements, General Stores for tents, picks and cradles', retangular tablet lower left stating below it 'JR Importer and Dealer in Revolvers, Guns, Tea, Sugar Etc.' on front of note, 'Promise to pay the Bearer on Demand the Sum of ONE POUND Sterling for value in Gold Dust, For the Melborne Bank', also with two large rectangular CANCELLED stamps, black on white, (this note illustrated Vort Ronald..Miscellaneous..p.23). Missing corner replaced by hand drawn corner as added to the note, many folds and creases, with unobtrusive pinholes from folds, heavy aging tone, otherwise very good, extremely rare and probably unique.

Ex Noble Numismatics Sale 49 (lot 1628) the Dr Alan Nicholson Collection.

A self styled bank, the Bank of "In Depend Ence" or Melbourne, was a name apparently used by a general store whose primary business appeared to be to supply goods and services to people going to and from the goldfields. It's use and function is at present not known. The note does suggest a fraudulent purpose, and was meant to pass as an issue from a known bank like the Bank of Van Diemen's Land. The similarity of these two notes indicate a common association and a deliberate attempt to copy and pass the note as a genuine issue. The note also has the word Melbourne incorrectly spelt in the reading 'For the Melborne Bank' as further evidence of amateur printing and possible protection from possible charges of fraud. No record exists of a Bank of Independence or of a Bank of Melbourne. To pay "in gold dust" is unusual. Whether the note was printed in the USA or a local Melbourne production is also uncertain but the crudeness of issue and overall lack of quality from a reputable printing company lends further credence to a fraudulent intention. A note requiring much more research, it is an interesting item, and apparently unique.