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Banknotes as Propaganda in the Free Banking Era

Wilson Purcell, Author

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Allegorical Imagery Applied to Slavery


The note above was originally produced by the Georgia Savings Bank.

The central vignette shows the Roman goddess of money, Moneta, sitting in the foreground as slaves work a cotton field behind her. She is shown holding a cotton plant as a bag of gold spills over her feet. This image relays the importance of cotton farming to the state economy because it is the only economic activity included. The slaves in the background relay the idea that the cotton economy requires slavery to run successfully as Moneta is shown leaning back, seemingly falling on the support of the slave laborers behind her.

While this note does not seem to speak on westward expansion, it uses similar imagery to reinforce the importance of slavery to the Southern economy. The note exaggerates Moneta's physical figure, dwarfing the landscape and the laborers behind her. Her physical dominance (and the laborers physical inferiority) suggest that the stability of the Southern (and therefore national) economy is more important than the issues surrounding slavery.
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