United States two thousand-dollar bill

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Two thousand dollars
(United States)
Value$2000.00
WeightApprox. 1[1] g
Security featuresNone
Years of printing1816–1840
Obverse
Third Bank of the US $2000, Dec 15, 1840, obverse.jpg
DesignPortraits of historical figures including William Penn, Robert Fulton, Benjamin Franklin, and Robert Morris.
Design date1816
Reverse
Third Bank of the US $2000, Dec 15, 1840, reverse.jpg
DesignBlank
Design date1816

A two thousand dollar bill ($2000) was issued by the Second Bank of the United States during its 20-year charter from February 1816 to January 1836[2], especially during the time when Nicholas Biddle was the President of the bank.[3] As was the case with all notes issued by the Second Bank of the United States, these notes were promissory notes, meaning that the bank would pay to the bearer of the note two thousand dollars by the date on the note.

History[edit]

The Second Bank of the United States was created in part due to a major readjustment of the global market as Europe recovered from the Napoleonic Wars.[4] Therefore, one important reason for creating the Bank was to restrain uncontrolled banknote printing in order to avoid a financial collapse.[4][5]

By the late 1820s, however, due to the influence of the Jacksonian Democrats, there was considerable public opposition to the Bank.[6] The Bank was no longer a federal institution after President Andrew Jackson revoked its charter in 1836, after which it became a private corporation under the Commonwealth of Pennsylvania law.[7] The shortage of currency that resulted caused the Panic of 1837, which would last for approximately seven years. Even so, notes continued to be issued by the Bank while it functioned as a private institution[8], until it was liquidated in 1841.[9] Banknotes that were issued by the bank after the bank became a private institution are often erroneously attributed to the "Third Bank of the United States"[10][11].

See also[edit]

References[edit]

  1. ^ U.S. Currency Education Program. "Weight of a US Banknote". uscurrency.gov. US Federal Reserve. Retrieved 19 January 2018.
  2. ^ "Education Westward Expansion". Retrieved March 5, 2019.
  3. ^ http://www.ushistory.org/tour/more/banknote01.htm
  4. ^ a b Wilentz, 2008, p. 206
  5. ^ Dangerfield, 1966, p. 76
  6. ^ Dangerfield, 1966, p. 89
  7. ^ Hammond, 1947, p. 155
  8. ^ "Bank of the United States Note, 1840 U.S. Capitol Visitor Center". Retrieved March 5, 2019.
  9. ^ Hammond, 1947, p. 157
  10. ^ "Philadelphia, PA- Bank of the United States $2,000 Dec. 15, : Lot #12194 : Heritage Auctions". Retrieved March 12, 2019.
  11. ^ "Third Bank of the United States Dec. 15th 1840 $2000 Serial No. 9636". Retrieved March 12, 2019.