Early Paper Money of America / Rhode Island / 1795 Bank of Rhode Island, etc.
The Bank of Rhode Island was incorporated in Rhode Island on Oct. 28, 1795 to operate at Newport. Its capital was $100,000 divided into 500 shares of $200 each with the right to increase to $500,000. Its bank notes were protected by a counterfeiting provision in the charter. Bank notes dated in the 18th century have not been located.
