Encyclopedia Dubuque
"Encyclopedia Dubuque is the online authority for all things Dubuque, written by the people who know the city best.”
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Affiliated with the Local History Network of the State Historical Society of Iowa, and the Iowa Museum Association.
DUBUQUE HARBOR COMPANY
DUBUQUE HARBOR COMPANY. The wealthiest business in Dubuque in August 1857, the Dubuque Harbor Company first issued post notes in November 1857. The denominations, $5 and $10, were engraved in New York. The notes caused controversy because some people felt they were in violation of state law. The Tribune, one of the local newspapers, was opposed to the bills while the Express & Herald while opposed to the bills saw them as a temporary necessity.
All the bankers in the city, with the exception of J.L. Langworthy & Brothers who had an interest in the Harbor Improvement Company of the Central Island Company, honored the currency. A group formed to support the Harbor Company notes and the company asked local businessmen to aid the community and not to profit from the currency being issued. The bills circulated throughout northern Iowa.
Resource: Information provided by Iowa: Obsolete Notes and Scrip by Dean G. Oakes