FA: $2,$3,$5,$10 Manchester, Michigan obsolete notes 1837

#1 May 7th 05, 08:55 PM

http://cgi.ebay.com/ws/eBayISAPI.dll...m=39737947 29

#2 May 8th 05, 02:11 AM

Just curious, did the "Michigan Safety Fund" amount to anything more than a
symbolic assurance?

"stonej" wrote in message
oups.com...
http://cgi.ebay.com/ws/eBayISAPI.dll...m=39737947 29

#3 May 8th 05, 01:14 PM

I believe it was mostly symbolic as they revised the banking
laws a few years later.

There are many interesting stories in regards to Michigan
obsolete note banks and the crooked practices many of them
were involved in.

One bank had a chest of coins that was supposed to be the
financial backing for the bank but it had a false bottom that
went down about an inch from the top of the chest. Silver coins
covered the first inch of the chest but the rest was filled with
nails, rocks etc. to make it seem heavy when the state inspector
came around. They would haul out the chest, the inspector would glance
at the coins on top and give his OK for the financial
backing.

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