Henry Shultz was all for a rising tide of commerce that lifted all boats, as long as a few tidbits fell in his own lap. His first love was for transportation, but close behind was banks. Here are some notes from banks closely connected with Shultz and Hamburg.
1816 Bridge Company of Augusta – by 1819 Shultz and his partner John McKinne had issued several hundred thousand dollars worth of these ‘Bridge Bills’. Shultz spent the rest of his life trying to make them good after the bank went bust during the Panic of 1819.
1824 First Bank of Hamburg – Shultz started this bank in support of his new town, but it was evidently undercapitalized and did not survive Shultz’s troubles in 1827. Image Courtesy of Mr. Truman Shivers
1849 Second Bank of Hamburg – this bank had ample backing and its notes were highly regarded through The War.
1860 Second Bank of Hamburg
1873 South Carolina Railroad – These ‘Fare Tickets’ were issued by the railroad in the hope that they would circulate as currency.
1873 Charlotte, Columbia and Augusta Rail Road – Another issuer of ‘Fare Tickets’ during the Panic of 1873.