Chattanooga
Depression Scrip

Hamilton National Bank Depression Scrip

One dollar design
The front of the depression scrip from the four Chattanooga banks is similar. The $1 is printed with a black scalloped border with the value 1 at each corner, the center is yellow with the Bank name at the top with red serial numbers. The scrip is issued for six months from the issue date , March 10, 1933. It is signed by Vice President B. M Preston.

Hamilton National Bank ordered $500,000 in depression scrip; $100,000 in $1 scrip, $200,000 in $5 scrip and $200,000 in $10 scrip from Brandon Printing Company on Wednesday March 8, 1933 and stared issuing it on Friday March 10th.

$1 Hamilton National Bank Depression Scrip - canceled

Most Chattanooga depression scrip has been canceled when it was redeemed. The holes punched in the note above read PD 87-36 4 29 33. 87-36 is the Hamilton NB bank number. 4-29-33 is the date canceled. However a few un-concealed notes are known without punch canceling.

$1 Hamilton National Bank Depression Scrip - un-canceled

Five dollar design
The $5 is printed with a blue scalloped border with the value 5 at each corner, the center is yellow with the Bank name at the top with red serial numbers. The scrip is issued for six months from the issue date , March 10, 1933. It is signed by Vice President B. M Preston.

Ten dollar design
The $10 is printed with a green scalloped border with the value 10 at each corner, the center is yellow with the Bank name at the top with red serial numbers. The scrip is issued for six months from the issue date , March 10, 1933. It is signed by Vice President B. M Preston.

According to Brown's thesis (see Bibliography), the amount authorized was $500,000 and the amount issued $325,000. Through issued for six months it was in active use only two weeks. As of August 31, 1935, the amount outstanding was $129. The scrip is scarce, I have recorded 28 notes, 13 $1, 7 $5 and 8 $10 as of 2/17/2015. This the most common Chattanooga depression scrip.