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| 1934 One Thousand Dollar Federal Reserve Notes |
United States 1934 $1000 Dollar Federal Reserve Note. L - Bank of San Francisco
Obverse: Portrait of Grover Cleveland, 22nd and 24th President of the United States.
Reverse: Numeral 1000 and the phrase “The United States of America One Thousand Dollars”
Signatures: (as depicted) William Alexander Julian, 28th Treasurer of the United States and Henry Morgenthau Jr., 52nd United States Secretary of the Treasury.
1934 $1000 bills were the largest denomination Federal Reserve Notes in circulation. They were used primarily for bank-to-bank transactions, so ordinary folks never saw them. Given their distinct ability to represent large sums of money in small packages, high denomination notes fell out of favor thereafter as they became a liability in fighting crime. They are still legal tender today at their face value.
The series of 1934 $1000 bills can be broken down into two categories based on their seal color. We are showing a pale green seal. There is another variety that has a lime green seal. Lime green seals are scarcer and they are usually found on notes with a serial number under 10,000.
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United States 1000 Dollar Bill Federal Reserve Note Series 1934
Grover Cleveland, 22nd and 24th President of the United States
Stephen Grover Cleveland (March 18, 1837 – June 24, 1908) was an American politician and lawyer who was the 22nd and 24th President of the United States, the only President in American history to serve two non-consecutive terms in office (1885–89 and 1893–97). He won the popular vote for three presidential elections – in 1884, 1888, and 1892 – and was one of two Democrats (with Woodrow Wilson) to be elected president during the era of Republican political domination dating from 1861 to 1933.
Cleveland was the leader of the pro-business Bourbon Democrats who opposed high tariffs, Free Silver, inflation, imperialism, and subsidies to business, farmers, or veterans on libertarian philosophical grounds. His crusade for political reform and fiscal conservatism made him an icon for American conservatives of the era. Cleveland won praise for his honesty, self-reliance, integrity, and commitment to the principles of classical liberalism. He fought political corruption, patronage, and bossism. As a reformer Cleveland had such prestige that the like-minded wing of the Republican Party, called "Mugwumps", largely bolted the GOP presidential ticket and swung to his support in the 1884 election.
As his second administration began, disaster hit the nation when the Panic of 1893 produced a severe national depression, which Cleveland was unable to reverse. It ruined his Democratic Party, opening the way for a Republican landslide in 1894 and for the agrarian and silverite seizure of the Democratic Party in 1896. The result was a political realignment that ended the Third Party System and launched the Fourth Party System and the Progressive Era.
Cleveland was a formidable policymaker, and he also drew corresponding criticism. His intervention in the Pullman Strike of 1894 to keep the railroads moving angered labor unions nationwide in addition to the party in Illinois; his support of the gold standard and opposition to Free Silver alienated the agrarian wing of the Democratic Party. Critics complained that Cleveland had little imagination and seemed overwhelmed by the nation's economic disasters—depressions and strikes—in his second term. Even so, his reputation for probity and good character survived the troubles of his second term. Biographer Allan Nevins wrote, "[I]n Grover Cleveland, the greatness lies in typical rather than unusual qualities. He had no endowments that thousands of men do not have. He possessed honesty, courage, firmness, independence, and common sense. But he possessed them to a degree other men do not." Today, Cleveland is considered by most historians to have been a successful leader, generally ranked among the second tier of American presidents.