LOCKPORT Illinois
Illinois & Michigan Canal post note
Branch State Bank at Chicago
circa 1839
cut canceled remainder
~ 8 X 4 3/8 inches
Post notes were a form of deferred-payment paper currency, typically issued by banks in the early 19th century. Unlike demand notes, post notes were payable only after a set period, often 30, 60, or 90 days after issuance. They were used in situations where immediate redemption wasn’t feasible and played a role in financing large-scale projects. This post note was for the Illinois and Michigan Canal which connected the Great Lakes to the Mississippi River that was completed in 1848 and was a main impetus in making Chicago a leading transportation hub before the railroads. The canal ceased operations in 1933.