1 Dollar New Martinsville Glass Manufacturing Co. Note, 1932

1 Dollar New Martinsville Glass Manufacturing Co. Note, 1932

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Description
The New Martinsville Glass Manufacturing Company of New Martinsville, West Virginia, issued this one dollar promissory note on February 13, 1932, guaranteed by the treasurer, John F. Martin, and countersigned by the company’s president, Frank Wells Clark. The note was redeemable for a cash dollar sixty days after the issuing date, and this note was promptly redeemed on April 12, 1932. This kind of note is commonly known as Depression scrip. As the name would suggest, notes like these were used during the Great Depression when cash was hard to come by and companies may have had trouble paying their debts. When banks were closing and people were hoarding money, local towns and factories issued their own currency or promissory notes to stimulate the local economy.
Location
Currently not on view
Object Name
note
date made
1932
place made
United States: West Virginia
Physical Description
paper (overall material)
Measurements
overall: 8.1 cm x 19.4 cm x.01 cm; 3 3/16 in x 7 5/8 in x in
ID Number
1979.1263.00003
accession number
1979.1263
catalog number
1979.1263.00003
serial number
7115
See more items in
Work and Industry: National Numismatic Collection
American Enterprise
Coins, Currency and Medals
Data Source
National Museum of American History
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