Founded in 1863 by Waterman Lilly Ormsby, the Continental Bank Note Company (ConBNC) promised greater efficiency and profitability than its competitors. It combined business acumen, independent and highly-skilled engraving, and well-connected entrepreneurs to secure important contracts, among them the U.S. Treasury Department’s sole currency contract. ConBNC triumphed where National Bank Note, American Bank Note, and others failed. ConBNC also secured the sole contract to print U.S. postage stamps. On 1 May 1873 the firm became National Bank Note Company’s successor. In 1879, ConBNC merged with the American Bank Note Company.