Municipal Scrip

A History & Catalog of Minnesota Obsolete Bank Notes & Scrip has detailed articles about this and other major categories of obsolete bank notes.  Order your copy here.

Municipalities issued paper money, as much to serve the needs of commerce by filling the void of a stable currency, as they did to finance their own operations.  The Territory of Minnesota briefly issued notes under the auspices of the State of Minnesota in anticipation of statehood.  The notes paid interest at the rate of 12 percent.

Cities and counties also issued notes.

The Treasurer of Ramsey County issued colorful, banknote quality scrip in the early 1860s.  These note were endorsed by local bankers to help them gain acceptance.

The Treasurer of Minneapolis, along with several other municipal issues, released fractionally denominated notes to ease the shortage of silver coin.