For sale is an original 1800s era NATIONAL CHEMICAL BANK of NEW YORK BLANK CHECK. The check includes detailed graphic of a woman and a two Cent Internal Revenue Tax Stamp watermark printed as part of the check design. The check dates to the 1800s because the date field for the check is marked “18__”. Check is in fair condition with some edge loss. Check measures about 8 inches by 3 inches. An interesting ephemera collectible.
In 1823, Balthazar P. Melick founded the New York Chemical Manufacturing Company. During the 1820s, prospective bankers found that they were more likely to be able to successfully secure a state bank charter if the bank was part of a larger business. Accordingly, the founders used the manufacturing company (which produced chemicals such as blue vitriol, alum, nitric acid, camphor, and saltpeter, as well as medicines, paints, and dyes) as a means of securing a bank charter from the New York State legislature. For its first twenty-five years, the bank paid no dividends, nor did it pay interest on customer deposits. In 1844, when New York Chemical Manufacturing Company’s original charter expired, the chemical company was liquidated and was reincorporated as a bank only, becoming the Chemical Bank of New York. During the Bank panic of 1857, Chemical Bank earned the nickname “Old Bullion” by taking a stand that it would continue to redeem its bank notes in specie throughout the crisis. In 1865, Chemical received its national charter as the Chemical National Bank of New York at the urging of the secretary of the treasury. This allowed Chemical to issue government-backed national bank notes, the forerunner to paper money.
