Pennsylvania 1835 $10

Lumbermen’s Bank – Warren, PA

The earliest records of land ownership where Warren, PA is located show that it was part of the Native American Seneca Nation. Early French explorers would claim the land with a series of plaques set out in the area. In 1749 a British colonial expedition was sent out to claim the land and bury all the French plaques laying claim to the territory, supposedly starting with the plaque located where Warren is located. Warren itself became a town in 1795, being named after General Joseph Warren who had fallen at the Battle of Bunker Hill.

Lumber was a plentiful resource in the area, and with the Allegheny River flowing through the town they could float lumber on the river to Pittsburgh, Pennsylvania. The central vignette on this banknote shows this in action. The lumber business enabled the town to prosper and, for a short time, there were more millionaires there than anywhere else in the United States.


In an effort to target banking services to the German immigrant lumbermen in the area, the Lumbermen’s bank opened in 1834 and, like many banks at the time, it issued its own currency.. The Lumbermen’s Bank was the first banking institution established in Warren county, was incorporated by an act of the State Legislature on February 28, 1834, with Robert Falconer serving as president, and Fitch Shepard serving as the cashier. Banknotes issued by the Lumbermen’s circulated widely through the area. Sadly, the bank only operated for four short years, it’s unfortunate demise following the nationwide financial Panic of 1837. This panic caused many banks to fail, including the Lumbermen’s Bank, which closed it’s door in 1838.

Some notable events in 1835:

Andrew Jackson was in his second presidential term.

January 8th, 1835 – The National debt was, for the first and only time in history, at $0.00

January 30, 1835 – Not happy enough that the debt was at zero, the first presidential assassination attempt was made. Richard Lawrence stepped in front of the president and pulled out a pistol, pulled the trigger and – it misfired! Andrew Jackson, though 67 years old, took matters into his own hands and assaulted his would be murderer with his walking stick. The would-be assassin pulled his second pistol and it too misfired as President Jackson continued to strike with his cane. The president’s aides pulled Andrew Jackson away and detained the assassin who was found insane and locked away for the remainder of his life.

March 3rd, 1835 – Congress authorized the New Orleans Mint and coins minted there could be determined by the mintmark ‘O’

May 6th, 1835 – The first edition of the New York Herald was printed and sold for 1 Cent per issue.

June 2nd, 1835 – PT Barnum’s circus starts their first U.S. tour.

August 17th, 1835 – the first wrench was patented by Solymon Merrick.

September 15th, 1835 – The HMS Beagle reaches the Galapagos Islands. Onboard was Charles Darwin, who would later use his observations of this voyage to formulate his theory of evolution.


Lumbermen's Bank $10 - 1835 Front
Lumbermen's Bank $10 - 1835 Back
Central Vignette showing logs being floated down the Allegheny River.