Commercial Bank of South Australia - Banknotes
The Commercial Bank of South Australia was established in Adelaide in 1878 during a boom period for the South Australian economy. After a few years of early success, poor management, competition, economic reversals and loan defaults all combined to place the bank in a position where it was forced to suspend payments. The viability of the instutution had become so poor that, only 8 years after commencement, no buyer could be found. The company was liquidated in 1886 with shareholders suffering heavy losses.
