Issued on November 2, 1907, this $1 Clearing House Certificate was produced by the Portland Clearing House Association during the nationwide Panic of 1907, when banks faced acute currency shortages. To maintain liquidity and public confidence, member banks deposited negotiable instruments and commodity‑backed assets—such as wheat, grain, lumber, and canned fish—to secure these temporary certificates. Though not legal tender, they were accepted at par by participating banks and payable in lawful U.S. money by February 1, 1908.
Printed by Burns & Co. of Portland, the certificate reflects the cooperative ingenuity of early‑20th‑century banking. Its detailed text and formal structure underscore the seriousness of clearing house responses to financial crises, making it a compelling artifact of American monetary history.
The store is OPEN come on in!