Description

Believed to be one of only two of this denomination in private hands and on the available evidence one of the earliest surviving examples of a ‘Promissory Note’ as circulated in Sydney before the introduction of a proper currency. A promissory note is a privately issued note of fixed value printed from a copper plate whilst other private notes which were handwritten or printed without a fixed value are described as ‘Sight Notes’.

Garnham Blaxcell arrived in Sydney on HMS Buffalo on 16th October 1802. He quickly won favour with Governor King who appointed him to several official positions. Blaxcell took an active part in the Bligh rebellion and during the interregnum was appointed magistrate and became the sole auctioneer in the colony.

Blaxcell was the owner of ‘The Factory’ where the Holey Dollars and Dumps were struck and the Blaxcell notes are thought to have been printed by the publishers of ‘The Sydney Gazette’.