Farmers and Mechanics Bank of Indiana 1817 - First Bank in Indiana signed by John Paul

Farmers and Mechanics Bank of Indiana 1817 - First Bank in Indiana signed by John Paul

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Farmers and Mechanics Bank of Indiana 1817 - First Bank in Indiana signed by John Paul

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RARE certificate from the Farmers and Mechanics Bank of Indiana issued in 1817. This certificate has the hand signatures of the Company’s President ( John Paul ) and Secretary ( John ?ining ). The Certificate was issued to Samuel Cooper of Gallatin, Kentucky. The Farmer’s and Mechanics’ Bank of Indiana, located at Madison, was incorporated by act of the Territorial Legislature, dated September 6th, 1814, signed by: Wm. Hendricks, Speaker of the House of Representatives and Jesse L. Holman, President of the Council. Approved, September 10, 1814, Th. Posey, Governor. This was the first banking institution legally incorporated within the territory. It was recognized and confirmed by the State Constitution in 1816. The charter extended in time up to January 1, 1835. Under the charter, the property of the bank, including capital stock, was restricted to, and not to exceed the sum of seven hundred and fifty thousand dollars ($750,000.) Colonel John Paul - a soldier of the Revolutionary War and the War of 1812, founder of the cities of Xenia, Ohio, and Madison - purchased the site and came to Madison in 1809. A public sale of government land was held in 1809 for $2.50 per acre. John Paul purchased the land and named it after James Madison who was currently President of the United States. That's how Madison, Indiana got its name.

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  • farandmecban1
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  • Coins & Currency
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  • Antiques
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