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1 Pound
| Issuer | City Bank of Sydney |
|---|---|
| Year | ND (1910) |
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| Shape | Rectangular |
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| Reverse description | Printed in brown on white cotton paper. Central design consists of an elaborate symmetrical guilloche medallion bearing the bank's coat of arms flanked by two standing figures, encircled by the inscription THE CITY BANK OF SYDNEY. Flanking cartouches to the left and right each carry the word POUND within ornate scroll and floral borders. |
| Reverse lettering | THE CITY BANK OF SYDNEY POUND POUND CANCELLED |
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| Comments |
The City Bank of Sydney had a short and troubled corporate life — it was absorbed into the Bank of New South Wales in 1918, which makes any surviving paper from its final decade genuinely uncommon. By 1910, Australian private bank note issuance was already in decline following the financial catastrophe of the 1890s, when a string of colonial bank collapses wiped out depositors and permanently damaged public confidence in private currency.
The Commonwealth Bank Act of 1911 set the stage for centralised issuance, and private notes were progressively squeezed out of circulation over the following decade. This note was issued into a monetary system that was already preparing to make it obsolete.