Born in Hartford, CT, Moseley Isaac Danforth became a noted banknote engraver who was a prime influence in merging banknote companies into a single entity. At age 18, he apprenticed to Asaph Willard of the Hartford Graphic and Bank Note Engraving Company. He then worked as an engraver in New Haven and in 1825, moved to New York for the same purpose. Danforth was also a noted portrait, figure, and historical genre painter and when the National Academy of Design was created in 1826, he was among the first members.
From 1827 to 1837, he worked in London and studied at the Royal Academy. He also became acquainted with a number of England's leading artists and did engravings of their work. Returning to the United States, he was briefly in Harford and then re-established himself in New York to concentrate on bank note engraving and eventually became a director of the American Bank Note Company.