The Color of Money

Previous Page Home Page Next Page


The drawings on the 1854 Bank of Milford paper currency reflect the importance of agriculture and the shipping industry to the Delaware economy.

The Color of Money

The General Assembly of Delaware on February 4, 1851, passed an act to incorporate a bank in Milford. The Bank of Milford opened for business in August of 1852 with $50,000 in Capital Stock. They were housed temporarily and started to build a new brick banking house. Unfortunately, fraud had been practiced on the bank commissioners which ended in the failure of the bank to redeem its notes. The bank had to close and sell the building that it had never used. In 1862, it was ordered that the notes of the Bank of Milford, then worthless, be destroyed. The notes amounting to $33,161.00 were burned.

These bank notes are from the Bank of Milford collection within the Small Manuscript collection. The Small Manuscript Collection is a collection of private papers from individuals and businesses from Delaware. The documents include diaries, letters, journals, business accounts, land records, day books and personal papers.