Rare 1843 5 Dollar Banknote Madison and Indianapolis Railroad - Scarce - Five Dollar Note I&M Railroad 1840s

An incredible piece of history, this 1843 5 Dollar Paper Banknote Issued by the Madison and Indianapolis Railroad is scarce. Exact note photographed.

On January 27, 1836, an act of the Indiana General Assembly established Indiana's first railroad to be built. Construction began on the state-owned Madison and Indianapolis Railroad on September 16, 1836. After building only 27.80 miles (44.74 km) from Madison to Queensville (just northwest of North Vernon in Jennings County) by 1841, the railroad was transferred to private ownership on June 20, 1842, as the Madison and Indianapolis Railroad Company. Although it was successful for more than a decade, it went into decline and was sold at foreclosure on March 27, 1862. It was then renamed the Indianapolis and Madison Railroad (I&M).

Organized on April 30, 1866, for the purpose of uniting the two lines, the Jeffersonville, Madison and Indianapolis Railroad Company (JM&I) absorbed the Indianapolis & Madison the next day, with the Jeffersonville Railroad being officially merged in on June 1 of that same year, upon the filing of the Articles of Consolidation.

On May 22, 1868, the Reno Gang held up the JM&I Railroad train at Marshfield, Scott County, Indiana, and escaped with $90,000 in cash described as being in "new notes." The money was never officially recovered and in today's value, represented more than $2 million.

1862 Piscataqua Exchange Bank 3 Dollar Paper Banknote, Portsmouth NH - Uncirculated - Three Dollar Note Portsmouth New Hampshire 1852