historyThe Public Domain Review1835 · Monroe, Michigan, USA

Escaped slave William Wells Brown claimed he became a barber issuing paper money in 1835 Michigan

the gist

William Wells Brown, who escaped slavery in 1834, later wrote that he ran a barbershop in Monroe, Michigan, in 1835 and issued his own shinplasters, small promissory notes that acted as small change. In the Western states of the 1830s almost anyone could start a bank and issue notes far beyond their reserves, and these 'wildcat banks' flooded the country with worthless paper. Shinplasters filled the shortage of coins, but people had to judge each note's value by trust in the issuer. Newspapers printed lists of reliable notes, and notes lost value with distance from their issuer. Brown's account is hard to verify, and historians have treated the banking story as an anecdote he may have embellished. Brown later became the first published African American playwright and the author of the first published novel by an African American, Clotel.

so what

Brown's story is a vivid window into the chaotic American banking system before the Civil War, when private banks issued their own currency. It also shows how a formerly enslaved writer used commerce and humour to tell a story about the nation.

fun fact

Brown's first narrative says he refused his biological father's surname and suggested he would rather have been called Friday.

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