Charter 324 - First National Bank and Trust Company of Newtown, Pennsylvania

From https://www.uscurrency.gov/history

In 1863 Congress establishes a national banking system and authorizes the U.S. Department of the Treasury to oversee the issuance of National Banknotes. This system sets Federal guidelines for chartering and regulating "national" banks and authorizes those banks to issue national currency secured by the purchase of United States bonds.

National bank notes were printed from 1865 until 1929, when they were retired as a currency. Like many other banks, The First National Bank and Trust Company of Newtown had a charter (number 324) given in the second year of the program. These notes circulated through local hands and beyond, recognized as legal currency, though they were not actually legal tender. Other Bucks County banks had charters and printed bank notes including Yardley, Bristol and Quakertown.

FNB Newtown's First Building and Addition

The size of the notes from 1865 until 1929 were larger than today's currency and had multiple issues. The early notes featured often stunning designs, on both sides, depicting everything from Sir Walter Raleigh to the baptism of Pocahontas. Early 1900s designs featured Presidents and statesmen. 

1902 Newtown National Bank Note

1902 Reverse depicting the landing of the Pilgrims

The small notes look much like the currency we are familiar with today except they featured the bank name and charter number and were issued in 1929 and retired during the Great Depression. 

1920 Newtown National Bank Note

The notes, today, are very scarce and the small notes are slightly rarer than the large. There are currently 44 large and 28 small notes documented from the charter. Of course, more are likely out there, tucked away in attics, desks, or forgotten drawers in one of Newtown’s proud old homes.