GOVERNMENT DISCOUNT BANK - SIX NOTES MADE OUT TO JOHN FAIRBAIRN 1835-1836

Of interest to both collectors of banknotes and banking and early Cape History, this lot comprises six Government Discount Bank Receipts/Banknotes - all made out to the important early Cape newspaper proprietor, educator, financier and politician John Fairbairn who was a member of the first Cape Parliament from 1854-1864. These documents measure 14x8cms. and look ostensibly like cheques. However they are effectively deposit slips or promisary notes. Each one is hand numbered and the amounts vary from 10 to 52 pounds sterling - large sums for the time that they were issued, the dates ranging from June 1835 to July 1836.

In Southern Africa, the first bank was introduced under the Dutch East India Company rule in 1793 in a mortgage bank, the Lombard Bank, using paper money. Following liquidity constraints subsequently under British colonial control, the Discount Bank was established in 1808. The Lombard Bank was converted into the Government Discount Bank, to accept deposits and discount bills of sale. These government –owned banks were the first banking institutions in southern Africa.

Discount Bank notes such as the ones on offer would appear to be very scarce. Made out to an important historical character such as Fairbairn, they are of significant importance.

Condition generally very good. Occasional creasing and staining.