Madison was founded as the county seat of Madison County in 1827. Named for President James Madison, the town was supported by the surrounding plantations which thrived on the cotton crop. Cotton remained important until the twentieth century. When the railroads connected Madison, the timber and naval stores industries came into play.
A capital of only $50,000 lead to Madison being represented on paper with the First National Bank of Madison being chartered on March 29, 1904. President of the bank, Louis A. Fraleigh, was the son of E.M. Fraleigh who issued scrip during the Civil War in the town of Quincy. The bank was unable to weather the Depression and on June 30, 1923 the bank was liquidated.
- Collecting Florida National Bank Notes
- Mr. and Mrs. Youngerman attend the inagural “The Value of Money” exhibit
- State of Florida Civil War Currency
- Florida Currency Museum Open Showcasing The William Youngerman Collection
- Browse Videos of Florida’s Historical Towns and Banks
Notes & Currency
- 18__ Fernandina $3 Obsolete Note
- 1882 $50 Jacksonville Note Charter #3869
- 1902 $10 Punta Gorda Note Charter #10512
- 1882 $5 Palatka Note Charter #3223
- 1902 $5 Key West Note Charter #7942