1842

Wabash and Erie Canal Land Office Note

Fort Wayne was chosen as the site for the groundbreaking of the Wabash and Erie Canal in 1832 be-cause it was the highest point along the route, dubbing Fort Wayne the "Summit City." When the canal finally connected Toledo to Evansville in 1853 it stretched 468 miles and was the second longest manmade waterway in the world. This two-dollar bill is from the Wabash and Erie Canal Land Office. It is dated 16 August 1842, nearly one year before the canal was dedicated in Fort Wayne on 4 July 1843 for completion of the canal from Lake Erie to Lafayette. These bills were first issued in 1840 and were intended to be used for paying interest and principal due on canal lands. Eventually, several versions of this land scrip emerged. Laborers who were paid in this currency received less for their efforts and much speculation occurred in the hopes that the currency would rise in value.