1902 $10 National Currency Third Charter President McKinley The Commercial National & Savings Bank Of LA, CA ...

1902 $10 National Currency Third Charter President McKinley The Commercial National & Savings Bank Of LA, CA Grades vf, very fine. This note belongs to an important series of United States currency in that it is the last type note of National Bank Currency printed in the old larger size. At the beginning of the final charter of notes (1929) all the new notes are made in the new smaller size. This note also features the portrait of William McKinley 25th president of the United States, who had been shot and killed at the Pan-American Exposition just a few months before the first notes in this series were printed and released bearing his image. National bank notes are different from other nationally printed currency in that they are printed specifically for each individual chartered bank organization. This assisted greatly in creating a system of bank notes that were the same across the country. This aided in travelers knowing what they were spending and receiving in change, rather than the times when each bank and state printed their own currency with their own designs. The National Bank Note system was abandoned shortly after the changeover to smaller size notes in 1929, making the third charter notes the last truly used issue of this kind.