The bank that issued this note started in 1854 and was first known as the Wickford Bank, but within a year the name was changed to The Farmers Bank. The President of the bank, Euclid Chadsey, had served as the president of Narragansett Bank from 1833 – 1836. The Cashier was A. C. Collins. The bank was short lived due to unscrupulous investors who issued large amounts of money out of state. This led to several problems, causing the bank to close in 1857.
The area around Wickford, R. I. had long been a favored fishing and hunting location for the Narragansett Indians, as it is one of the East Coast’s best-sheltered harbors. Wickford itself started out in 1637 when Roger Williams established a trading post, quickly followed by Richard Smith also starting a trading post nearby as well as building a large house the following year, in 1678. Today, Wickford is a small village and part of North Kingstown, Rhode Island. Due in large part to the protected harbor, many early homes dating to the 18th century still survive.
This five dollar banknote was issued in 1855, and has a great vignette that spans the length of the note. Benjamin Franklin appears in the center portrait, flanked by the words Five Dollars, and two red Roman numeral V’s under-printed. The back of the note is blank, save for a cryptic note which reads “10 in 125 Ridge St.”