Watch List notes:

TREASURY BILL BY THE DEPUTY COMMISSARY GENERAL'S OFFICE, Sydney New South Wales, 24th December 1817 for pounds sterling 45.12.6 to the order of Mr William Cosar, as salary due to him as "Master Boat Builder in this Colony", No.105 and handsigned by Deputy Commissary General, David Allan and approved by Governor Lachlan Macquarie. On official 'crown' international parchment with the impressed Seal of the Commissariat. One of the earliest Colonial Treasury Bills known and of the highest rarity. Small section of bottom left corner and lower edge missing, pin hole to centre, otherwise a full note, very fine or better and extremely rare.

Ex the Westpac Archives. The note entered the archive via the Bank of New South Wales which was formed in 1817 and renamed Westpac in 1982. It is one of only three notes in private hands bearing the important signature of Governor Lachlan Macquarie.

The Commissariat in New South Wales was a branch of the Army Commissariat under the control of the Treasury in London. Its activities within the Colony were not unlike that of the Reserve Bank of Australia today.

This treasury Bill was a payment to William Cosar, a master boat builder in the early colony. This Bill in turn endorsed by Captain Joseph James who sailed the Brig Daphine to Capetown, Cape of Good Hope and traded the Bill for much needed goods to bring to the colony.