MISSISSIPPI UNION BANK $500 of MAY 1840 FORMER GOVERNOR & BANK PRESIDENT SIGNED
MISSISSIPPI UNION BANK $500 of MAY 1840 NATIVE AMERICAN, STEAMBOAT, PIONEER and AMERICAN EAGLE SEAL – SIGNED by FORMER GOVERNOR (BANK PRESIDENT) HIRAM G. RUNNELS.
In 1840, the state of Mississippi defaulted on interest payments on $5,000,000,000 worth of Mississippi Union Bank bonds and as such it forced the bank into bankruptcy. This example has several pinholes, numerous folds and some minor tears, especially noticeable in the lower margin. Counter signed (and then crossed out) on the reverse with some manuscript notations on the front.