PS NL

S NL	STRAITS SETTLEMENTS
Value	5 Dollars
Issued by	Chartered Bank of India, Australia & China
Date	1859 & 1860
Printer	Batho & Co, London
Purpose	The bank’s charter granted it the right to issue notes payable on demand at any branch, but not at an agency (Singapore had only an agency). To circumvent this law and overcome the acute shortage of paper money in Singapore, a stock of post bills was used as a form of provisional notes. The post bills were payable three days after sight, but they circulated in Singapore and performed the functions of banknotes.


Royal arms	uniface