The Exchange Bank

The Exchange Bank was an old private bank in Noble City. It was founded in 1878 as a place where people could change their gold and silver for more convenient U.S. Banknotes. A shortage of American bills in 1884 led them to issue their own currency, in denominations of 1, 3, 4, 5, 8 and 10 dollars. In 1889 a 15 dollar note was printed but not issued out. The panic of 1893 in the US led to many people demanding to change their cash into gold coins. The bank did not have enough reserves and it folded that year, leading to major losses to customers.