Washington Trust’s OG Bank Notes Did It First

Photograph courtesy of Washington Trust

Many rhode islanders know North Kingstown-born Gilbert Stuart painted the portrait of George Washington that appears on the $1 bill. But did you know the state’s claims to presidential currency predate that design by nearly seven decades? In 1800, Washington Bank — known today as Washington Trust — was founded in Westerly just six months after the death of its famous namesake. At the time, banks commonly printed their own currency for customers. “Think of it like a check. It was a note with a signature and a promise of someone at the bank to pay it,” says Sharon Walsh, senior vice president and director of marketing and corporate communications for Washington Trust. The new bank hired Connecticut-based engraver Amos Doolittle to design notes featuring Washington. It was the first time the president’s likeness appeared on paper currency. “The cashier and the [bank] president would individually sign each single one for authenticity,” Walsh says, adding the notes were printed and laid out to dry at the bank’s original location. By the Civil War, private bank notes had given way to federal currency, and the first $1 bill featuring Washington was issued by the Treasury in 1869. Today, the original notes — along with the copper plates used to print them — are maintained at Washington Trust’s main office on Broad Street. “The history runs deep, and it also runs parallel to the country,” Walsh says.

Photograph courtesy of Washington Trust