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The Continental Congress also issued paper money during the revolution — known as continental currency — to fund the war effort. To meet the monetary demands of the war, state and continental governments printed large amounts of currency, leading to rapid depreciation. By the end of the war, these paper notes became effectively worthless.
The Secretary of the Treasury directed a reduction in paper currency from a 7 + 7 ⁄ 16 inch by 3 + 9 ⁄ 64 inch size to a 6 + 5 ⁄ 16 inch by 2 + 11 ⁄ 16 inch (6.31" × 2.69") size, which allowed the Treasury Department to produce 12 notes per 16 + 1 ⁄ 4 inch by 13 + 1 ⁄ 4 inch sheet of paper that previously would yield 8 notes at the ...
A Short History of Paper Money and Banking in the United States (1833) The curse of paper-money and banking; or A short history of banking in the United States of America, with an account of its ruinous effects. (1833) An inquiry into the expediency of dispensing with bank agency and bank paper in fiscal concerns of the United States. (1837)
Notes of the Bank of Singapore, Michigan. Wildcat banking was the issuance of paper currency in the United States by poorly capitalized state-chartered banks.These wildcat banks existed alongside more stable state banks during the Free Banking Era from 1836 to 1865, when the country had no national banking system.
The Marteau Early 18th-Century Currency Converter A Platform of Research in Economic History. Historical Currency Conversion Page by Harold Marcuse. Focuses on converting German marks to US dollars since 1871 and inflating them to values today, but has much additional information on the history of currency exchange. Gold in US Geological Survey
In the absence of gold and silver coin, the premium for specie began to devalue paper currency. [10] After the New York banks suspended specie payments (quickly followed by Boston and Philadelphia) [ 11 ] the premium on gold rose from 1–3% over paper in early January 1862 to 9% over paper in June 1862, [ 10 ] by which time one paper dollar ...
The Engraver's Line – An Encyclopedia of Paper Money & Postage Stamp Art. BNR Press. ISBN 978-0-931960-36-9. Matthews, James M. (1862). Public Laws of the Confederate States of America Passed at the First-Fourth Sessions of the Second Congress. Yeoman, R. S. (June 1, 2004). A Guide Book of United States Coins. ISBN 978-0-7948-1790-9.
The universal appeal and instant recognition of bank notes have resulted in a plethora of novelty merchandise that is designed to have the appearance of paper currency. These items cover nearly every class of product. Cloth material printed with banknote patterns is used for clothing, bed linens, curtains, upholstery, and more.