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Early Paper Money of America / New York / 1792, etc., Bank of Albany

The Bank of Albany was incorporated on April 10, 1792 until May 1811 with a maximum capital of $240,000 divided into 600 shares of $400 each. The State had the right to subscribe for 50 shares additional. The bank notes were to be signed by the president and the cashier. The debts including bank notes were limited to three times the capital plus the amount of specie deposits. No 18th century issues have been located and an early 19th century issue is shown below. It may be counterfeit.
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