Oliver Cowdery became Vice President of the defunct Bank of Monroe in Monroe, MI. Oliver may have traveled personally to Monroe to sign banknotes there. The went out of business at the end of Mar. Grandison Newell had bought up a considerable amount of notes then in circulation and presented them at the bank's Kirtland office, demanding that they be redeemed with specie. The bank probably ran out of its original stock of silver and gold coins well before the end of January. Later charges made against Oliver for "counterfeiting" may have been related to his signing and issuing banknotes which had no monetary value.
[Source: Broadhurst, Dale R., Oliver Cowdery Chronology, http://olivercowdery.com/history/Cdychrn1.htm]
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