ABCorp facts for kids
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| Industry | Manufacturing, Finance, Printing |
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| Founded | 1795 |
| Headquarters | Boston, Massachusetts |
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Key people
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William J. Brown, CEO |
ABCorp, also known as the American Bank Note Company, is an American company. It makes special printed items for things like payments and secure access. Think of it as a company that helps keep important documents safe from being copied.
Its history goes all the way back to 1795. Back then, it helped the first bank in the United States create money that was harder to fake. Today, ABCorp has offices and factories in the United States, Canada, Australia, and New Zealand.
Contents
How ABCorp Started
The company that grew into the American Bank Note Company began with a person named Robert Scot. He was the very first official engraver for the U.S. Mint, which makes coins.
The company was founded in 1795. It was first called Murray, Draper, Fairman & Company. They printed many important things. This included certificates for stocks and bonds, which are like promises of money.
They also printed paper money for thousands of state banks. From 1879 to 1894, they even printed postage stamps.
Growing Bigger After 1857
After a money problem called the Panic of 1857, seven big printing companies joined together. This happened on April 29, 1858, and they formed the American Bank Note Company. Their main office was in New York City.
To be close to banks and stock markets, the company moved its main office several times in Manhattan. They were at 55 Wall Street, then 142 Broadway, and later 78–86 Trinity Place. In 1908, they moved to 70 Broad Street.
During the American Civil War, the U.S. government needed to print its own paper money for the first time. Congress approved $60 million worth of these "Demand Notes" in 1861.
The American Bank Note Co. and another company called National Bank Note Co. were hired to print this new money. People called these notes "greenbacks" because of their color. They printed 7.25 million notes in $5, $10, and $20 amounts.
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In 1862, the government started printing its own money at the Bureau of Engraving and Printing. So, American Bank Note Company looked for new work outside the U.S. Over time, they printed money and secure papers for 115 different countries!
In 1873, the National Bank Note Company joined with American Bank Note Company. Later, in 1879, another company called Continental Bank Note also merged with them.
When Continental joined, they had a contract to print U.S. Postage stamps. American Bank Note Company continued this work.
In 1887, American Bank Note Company won a contract to print postal notes for the U.S. Post Office. These were like early money orders. They also started printing American Express "Traveler's Cheques" in 1891. These were special checks that travelers could use safely.
In 1894, American Bank Note Company finished its last contract for U.S. Postage stamps. One famous set they printed was the Columbian Issue. These stamps celebrated the voyages of Christopher Columbus. After this, the U.S. government took over all stamp printing.
The Twentieth Century
In 1933, the company printed banknotes for Bank Melli Iran, a bank in Iran.
During World War II, from 1943 to 1944, the U.S. Post Office released a special series of stamps. These stamps honored the countries that had been taken over by the Axis powers (Germany, Italy, and Japan).
The government's printing office didn't have the right machines for these colorful flag stamps. So, they hired American Bank Note Company to print them. This series included flags from countries like Poland, France, Greece, and Korea.
ABCorp Today
Today, ABCorp's main office is in Boston, Massachusetts. They have factories in Boston and Toronto, Canada. They also have distribution centers in Columbia, Tennessee. Internationally, they have facilities in Melbourne and Sydney, Australia, and Auckland, New Zealand.
Important Buildings
The American Bank Note Company Building and the American Bank Note Company Printing Plant were both built in 1908. These buildings are now special landmarks in New York City. The main building is also listed on the U.S. National Register of Historic Places. The company sold these buildings in the 1980s.
Gallery
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Benjamin Franklin stamp from 1861, part of the first U.S. Postage Stamps series.
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The $5 Columbian stamp from 1893, one of the last U.S. stamps printed by the company until 1944.
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A proof for a beer tax stamp from 1871.
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A Canadian 2 cent stamp from 1898.
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An 1897 "Lady of the Light Bulbs" tax stamp from Canada.
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Queen Victoria on an 8½ cent stamp from Nova Scotia, 1860.
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Pedro Álvares Cabral - a steel engraving made by American Bank Note Company.
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A specimen (sample) tax stamp from Colombia, 1916.
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A Greek banknote from 1912 for the National Bank of Greece.
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A U.S. Stamp from the "Overrun Countries series," showing the flag of Korea.
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A Dutch Guilder banknote printed for the Dutch government-in-exile in 1943.
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A 1000 Turkish lira banknote printed by ABCorp in 1946.
See also
In Spanish: American Bank Note Company para niños
- Canadian Bank Note Company - Canadian unit from 1897 to 1923
- New York Bank Note Company
- Postage stamp
- Postage stamps and postal history of the United States
- Banknotes of Turkey
