Norton - The Merchant
Joshua Abraham Norton was the younger of two children born to John and Sarah Norton in London, England, in 1818. As part of the early Jewish pioneer movement, Joshua's family left England in 1820 and moved to Cape Town, South Africa, in search of an opportunity for a better life. Eventually, John Norton bought a farm and became part owner of a ship chandlery and general merchandising store, and an agent for shipping interests. As a young man, Joshua gained valuable experience by working at his father's store and later started his first business at the age of 22. Unfortunately, his first attempt was unsuccessful, and in 1844 he was forced to abandon the venture.

By the time the news of the discovery of gold in California reached South Africa, Joshua's parents had died, leaving him with an inheritance large enough to allow him to set up a business again. With nothing to keep him in Cape Town, Norton left South Africa and arrived in San Francisco in November 1849 to build his fortune. Soon after his arrival, it became immediately apparent to Norton that most things sold in San Francisco, such as food, clothing and all types of merchandise, were imported. He was convinced that a shrewd businessman buying and selling these imported goods at the right times could make a great deal of money. Norton set up an office as a commission merchant, which eventually became very profitable.

Norton was mesmerized with the unique nature of San Francisco and its citizens. He often found himself involved in civic affairs, and he truly began to fall in love with the city. Norton's business was thriving, and he became extremely optimistic about the future of San Francisco. So optimistic, in fact, that Norton was one of 93 prominent businessmen who petitioned Congress to open a Branch Mint in San Francisco. And with the arrival of thousands of new settlers, which led to the construction of new buildings, homes and roads, Norton was persuaded to begin investing his profits into real estate. By early 1852, besides owning the city's first rice mill and a cigar factory, Norton owned three of the four corners at the intersection of Sansome and Jackson Streets, as well as some waterfront lots. He was a highly successful and well-respected businessman, but in December 1852, his financial ruin would begin.

By the end of 1852, rice became a very scarce commodity, with newspapers reporting that further exportation of rice from China would be prohibited. Knowing that rice was a staple of the city's large Chinese population, Norton tried to take advantage of the situation. When a ship from China sailed into port on December 22, 1852, Norton tried to corner the market by entering into a contract to purchase the cargo of 200,000 pounds of rice for the price of 12.5 cents per pound. Unfortunately, within two weeks four additional ships carrying Peruvian rice arrived in San Francisco. There was such a glut of rice in the market that by the end of January the price had dropped to 3 cents per pound. Norton's scheme failed miserably, and he tried to renege on the original contract, which led to years of costly litigation.

Adding to this setback, business became very depressed in San Francisco in 1854 and 1855. Norton's enterprises were suffering badly and this, coupled with expenses from the long legal battles over the rice contract, forced him into a precarious financial situation. By 1858, Norton had estimated assets of $15,000.00 with debts listed at $56,000.00, forcing him into bankruptcy.

Within a short period of time, Joshua Abraham Norton, a once prominent member of society, moved to No. 255 Kearny Street, a low-income section of the city. The loss of his fortune caused a deep state of depression and insanity to take hold of his life. And aside from a few old business acquaintances and friends who gave him some financial assistance, Norton was all but forgotten by the citizens of San Francisco.

Norton - The Emperor
It was September 17, 1859, when a resurrected Joshua Norton entered the offices of the San Francisco Evening Bulletin carrying a letter and requesting its immediate release. The editor thought the humorous content of this single paragraph would be a welcome distraction to the citizens who had been mourning the untimely death of California Senator David Broderick. And later that evening, in a conspicuous place in the news columns, was the announcement:

At the peremptory request and desire of a large majority of the citizens of these United States, I, Joshua Norton, formerly of Algoa Bay, Cape of Good Hope, and now for the last nine years and ten months past of San Francisco, California, declare and proclaim myself the Emperor of these United States...- Norton I

So without a war or revolution, the now mentally challenged Norton assumed leadership of the country and made San Francisco the capital of his kingdom. (It wasn't until 1862, when Norton wanted Louis Napoleon to adopt a hands-off policy in Mexico, that he added "Protector of Mexico" to his title.)

For the first six months, Norton did not appear publicly, but instead he ruled his empire by a series of proclamations published in the local newspapers. With some of these initial decrees, he abolished Congress and the Supreme Court, discharged the Governor of Virginia and appointed General Winfield Scott as Commander-in-Chief of the empire's armies. It wasn't long before Norton had a dedicated following of readers, who found these royal commands interesting as well as amusing.

Then, on March 18, 1860, his subjects were taken aback at the appearance of their new emperor dressed in a regal uniform. His stately apparel was a combination of cast-off War Department military uniforms, which consisted of an officer's coat with gilt epaulets, sword, navy pants and boots, and a general's cap that soon gave way to his preferred tall, white beaver hat adorned with peacock feathers.

It wasn't long afterward that Norton moved to the Eureka Lodging House located at 624 Commercial Street. His royal chamber overlooking the street was a 6' x 10', 50-cent-a-night room complete with bed, chair and washstand. Every day Norton would leave his palace and walk the streets of San Francisco. And although he was sometimes heckled, most of his loyal subjects properly acknowledged His Majesty's presence as he strolled by dressed in uniform carrying a decorative cane or colorful Chinese umbrella.

Norton had a daily routine of continually inspecting the state of affairs of his empire. During these "Imperial Inspections," he examined the condition of the streets, buildings, sidewalks, cable cars and police officers' uniforms, and willingly attended to the needs of his subjects, reporting his displeasure to the proper authorities (or to anyone else who would listen). Norton kept himself well informed of all aspects of San Francisco life by attending political speeches, social events, lectures, debates, theatrical shows and any other public gathering in which he felt his presence was required.

The Emperor was welcomed at most establishments, because the many curiosity seekers he attracted were good for business. Norton was often found eating at the free lunch counters supplied by the local taverns and saloons, which, along with visits to social clubs and reading rooms, presented him the opportunity to spend hours conversing with many of his subjects.

He was allowed a free pass to some of the city's venues, as well as use of public transportation and admittance to the occasional show, but he had a problem paying for more expensive services such as room and board and dining at better restaurants.

He solved this problem by printing his own money.

Emperor Norton was also a champion for the racially discriminated groups of San Francisco, including Native Americans, Africans and especially the Chinese, who were looked down upon by much of the city's population. These issues, as well as many other of Norton's demands and laws, were continually being released in the local newspapers, the most famous of which was announced on March 23, 1872:

That a suspension bridge be built from Oakland Point to Goat Island, and thence to Telegraph Hill; provided such bridge can be built without injury to the navigable waters of the Bay of San Francisco.

To this day, many people believe that the bridge spanning the San Francisco-Oakland Bay area should be renamed the Emperor Norton Bridge, after the man who proposed its construction.

After a 20-year reign, the end came quickly. On Thursday evening, January 8, 1880, Norton collapsed at the corner of California St. and Dupont St. (now Grant Ave.). Even though he was quickly rushed to the hospital, he did not respond to any treatments and died of apoplexy soon afterward. The next day, the local newspapers were lamenting his death with headlines on the front pages such as "Le Roi Est Mort" (The King is Dead) and "A Vacant Throne." On Saturday, January 10, His Majesty's body lay in state, and within hours so many people came to pay their respects (an estimated 30,000 mourners) that the police had to be called to help keep order. He was buried later that day in the Masonic Cemetery at the city's expense. In 1934, due to land development and construction, the Pacific Union Club raised enough money to have his body moved to Woodlawn Cemetery in Colma, California, with a new headstone that reads:

Norton I, Emperor of the United States and Protector of Mexico/Joshua A. Norton, 1819-1880

Norton - His Money
Although San Francisco had allowed Norton certain freedoms, he still needed money for rent, to buy new uniforms, to eat at better establishments and to have the ability to purchase items that were more fitting of an emperor. Extremely uncomfortable with this financial situation, he struggled to get by during the 1860s, which is obvious by his undernourished appearance in earlier photographs.

By the end of the decade, however, Norton devised a plan that would soon fill the empire's coffers with gold and help relieve his poor living conditions. He decided to levy taxes on his subjects in the form of "Bonds of the Empire." These bonds were basically promissory notes that would be payable with interest at a later date. Norton issued most of these notes to individuals in exchange for hard currency, while others were used to purchase goods or services from local businesses.

Norton approached the printing company of John Cuddy and Edward C. Hughes to design and print bonds gratis for the empire. In return for their services, they were allowed to promote themselves by placing "Cuddy and Hughes, Printers to His Majesty Norton I, 511 Sansome Street, S.F." at the bottom of all the notes. Between 1870 and 1876, Cuddy and Hughes produced four different Types of 50-cent notes and a $5 note. They all had a 7% interest rate and were payable in 1880.

In 1877, Charles A. Murdock & Company became the Emperor's printer of choice. And although Murdock & Company did not advertise themselves on the notes, the company did save the empire money by lowering the interest rate from 7% to 5% and eventually to 4%. Murdock & Company printed two different Types of 50-cent notes and $10 and $100 notes as well.

The $5, $10 and $100 bonds were extremely unpopular with Norton's subjects, and very few were distributed. The most commonly issued bonds, of which there were six Types, were Norton's 50-cent notes, which his subjects found to be a more tolerable amount.

Norton was very systematic when it came to issuing his bonds. The first known notes were not numbered and were made out directly to the individual. Later, they evolved into anonymous notes, which were consecutively numbered, dated and signed by the Emperor himself. Based on the earliest known numbered note, issued on July 23, 1873 (#1085), it is estimated that Norton issued approximately 300 notes per year. His first issued surviving scrip is dated November 1, 1870, and the last was #3042 issued on the day he died, January 8, 1880. (This note has been reported but not seen.)

All of Norton's notes issued between 1870 and 1879 were payable in 1880. The interest rate was 7% between 1870 and 1877, dropping to a 5% interest rate in 1878 through 1879. But as 1880 approached, Norton realized that he could not afford to pay back the notes. Murdock & Company solved this problem by printing new "Imperial Bonds" that were payable in 1890 with a 4% interest rate. So as the 1880 notes matured, Norton could simply roll them over to the new 1890 bonds. There are only two of these 4% notes known to exist today, the earliest of which is #3004 issued December 19, 1879, only 20 days before Norton's death.

All of the "Bonds of the Empire" are very rare. A total of 28 notes in all denominations and types survive today - 13 in museums or institutions and 15 in private hands - with an average grade of Very Fine. Twenty-three of these surviving bonds are 50-cent notes comprised of six different Types. There are no uncirculated bonds known (even those un-issued).