An incredible piece of history, this very rare 1873 1 Dollar Commision Scrip, issued by Wm. W. Henderson Dry Goods and Millinery of Portsmouth NH. Printed in the midst of the economic panic of 1873 when businesses were struggling to sell their products. Left end vignette of Greek Goddess of Agriculture Demeter (Roman equivalent; Ceres), center vignette of a trade port and right end vignette of a sailing ship. As of 2018, according to Kevin LaFond in his book New Hampshire Merchant Scrip, there is only one other reported note of this kind and from this company. More information on the company and these kinds of notes below.
Wm. W. Henderson & Co. was established in 1869 by William W. Henderson. Before he opened his own business, W. Henderson partnered with his father, George Henderson, at his dry goods store on Daniel St in Portsmouth, NH. William left his father's company in 1868 and opened his own dry goods store, Wm. W. Henderson & Co., right next door to his father's store. The back of this note claims this store had prices "lower than any other Dry Goods store in the city" and the largest millinery stock in the city. During the economic panic of 1873, Wm. W. Henderson & Co. issued these Commision Scrips in order to sell more goods, as did many other businesses across the country. The business lasted until 1876 when the store closed.
"Tiffany Scrip", as these notes were also called, were printed by Tiffany Brothers Co. in New York, an advertising company who became popular among businesses during the Panic of 1873. The scrips did not circulate as a form of currency, rather as a coupon for certain stores in order to sell more goods. As the back of this scrip note explains, this note can be exchanged for $1 off of any purchase of goods totaling over $20, or 50 cents off of a total over $10. These notes were used as a form of advertising nationwide during the Panic of 1873, all displaying similar designs and fonts with alterations on denomination and companies.
This extremely rare and fascinating piece of New Hampshire history is an absolute must have for any collection!
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Extremely Rare 1873 Wm. W. Henderson 1 Dollar Scrip Note, Portsmouth NH - 1873 One Dollar Commission Scrip, Dry Goods Store, Portsmouth NH