"Methuen, A Town in Essex County, Massachusetts"

"The Beverly Bank: An Early American Bank, Established 1802"

The Beverly Bank
Sample of Introductory Text

By 1802, a small number of American banks had been established along the Atlantic coast to support
commercial shipping and foreign trade.  One of them, now called the Beverly National Bank, celebrates its 200th anniversary.  It is the oldest community bank in the United States.

The Beverly Bank was launched at a time when the young republic was trying to resolve its money and banking systems.  The development of the American monetary system was of great concern and the transition from foreign currency was difficult.  The new government allowed American banks and businesses to print and circulate their own money.  Foreign bills and coins, plus counterfeit money, created a chaotic money situation.

"Agreement with Mrs. Needham and Galucia to build a firm stone vault in cellar of said house - with Mr. Hill the engraver at Boston to cut the plates and seal for said Bank with D.A. Tyno, Esq. for paper, and Mr. Josiah Gould to be cashier of said Bank at a salary of Eight Hundred Dollars a Year...And that Joseph Lee, Nathan Dane, Benjamin Lovett, Jr. and Thomas Stevens be a committee of the directors to count the paper, purchase a seal, to weigh the gold and count the silver and bills and sheets signed..." From Directors' Records, Beverly Bank

Ship Model and 19th-Century World Map

Beverly Bank Original Scales

Introduction to Exhibit

Early American Coins and Printed Money