March 1793, Pennsylvania Colonial Currency, “Delaware & Schuylkill Canal” Navigation Company, Philadelphia, Three Dollars or THREE hundred CENTS., Private Company Note, the “Newman Plate Note,” Hoober 305-744, Signed by Tench Francis Jr. (1731-1800) Agent for the family of William Penn and was the First Cashier of the Bank of North America, Choice Crisp Uncirculated.
This exceedingly rare Philadelphia Private Company note is the actual Newman Plate Note shown Illustrated on page 369 of the 2008 5th edition of THE EARLY PAPER MONEY OF AMERICA. This note is printed on thick clean watermarked “PENNSYL / VANIA” on two lines paper by printer R. Aitken & Son, who’s name is on the face in small print at center bottom with decorative ornamental borders. The sharp typeset text at center runs across with a larger partial title “Delaware & Schuylkill Canal” at top.

Hand-dated “March 1793” being issued to Wm. Gonnett, with his large vivid brown ink endorsement clearly seen on the blank back measuring about 2” long with his flourish below. Signed on the face by the treasurer Tench Francis, who was a former cashier for the Bank of North America. The embossed company Seal is in the center. This is the unique serial number 169 note is bright, crisp and excellently printed. The company’s embossed seal is located just left of center. Provenance Ex: Eric P. Newman Numismatic Education Society Collection.


Tench Francis Jr. (1731-1800) was an American merchant, lawyer and agent for the family of William Penn and the first cashier of the Bank of North America.

Francis was agent for the William Penn family in connection with their proprietary interests in the colonial-era Province of Pennsylvania. He was the first cashier of the Bank of North America, a position he held until his death. He is said to have contributed £5,000 for the support of the Continental Army.

Francis later headed the commission that laid out the city of Pittsburgh. His appointment as Purveyor of Public Supplies on February 23, 1795, unified U.S. Navy pursers under a single person, which created the Navy Supply Corps.

Francis married Ann Willing, daughter of Philadelphia mayor Charles Willing and his wife, Ann Shippen, on February 8, 1762. Francis died in Philadelphia, on May 1, 1800; he is interred in Christ Church Burial Ground in Philadelphia.