During our Andover at Work program school children visit several stations with the assistance of an expert tour guide and learn about the history of Andover. While visiting the barn and store station, students gather eggs and bring them to the store to trade or barter for goods. Students take away from the store a copy of a three dollar bill.
Three dollar bill?? I’m sure your saying, “but that doesn’t exist.” And No, its not monopoly money, but it is money and it does exist. It was used right here in Andover.
It wasn’t until 1913 that the Federal Reserve Bank finally adopted a paper currency system with set standards that could meet changing business needs. The use of paper currency began back in 1690 bythe Massachusetts Bay Colony. After years of depreciation, inconsistency, and limitations paper currency was not highly thought of and was even forbidden in the U.S. Constitution. As time passed, Congress eventually authorized the The First and Second Banks of the United States to issue paper currency. After those banks closed, panics occured and notes issued by state-charted private banks became the most popular form of currency between 1836 until 1861.
Notes issued by thousands of different banks varied in size, color, and appearance.
The Andover Bank was estabalished in 1826 and produced its own bank notes. The Andover Historical Society’s collection houses many of these interesting forms of paper currency and they are worth taking a look at.
The Andover at Work program is a great opportunity for children to learn about the unique stories that took place right here in Andover. We will start the school program on April 27th and run until June 9th. Any individuals interested in shadowing or becoming a guide, please contact Debbie DeSmet at firstname.lastname@example.org or call 978-475-2236.
***Thanks to all our wonderful volunteers signed up already, we are looking forward to having you and the children here at the Andover Historical Society.***