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The greenback's low point came in July that year, with 258 greenbacks equal to 100 gold. When the war ended in April 1865 the greenback made another recovery to 150. [11] The recovery began when Congress limited the total issue of greenback dollars to $450 million. The greenbacks rose in value until December 1878, when they became on par with gold.
A Demand Note is a type of United States paper money that was issued from August 1861 to April 1862 during the ... Greenback (1860s money) History of the United ...
Greenback (1860s money) Coinage Act of 1873; Demand Note; United States Note; Public Credit Act of 1869; John Sherman, who was the biggest proponent of this act, and was the Secretary of Treasury when this was passed; Gold Standard; Salmon P. Chase; Resumption Act
During the early 1860s the so-called second obligation on the reverse of the notes stated: [1] This Note is a Legal Tender for all debts public and private except Duties on Imports and Interest on the Public Debt; and is receivable in payment of all loans made to the United States. By the 1930s, this obligation would eventually be shortened to:
A "greenback" note issued during the Civil War One of the first attempts to issue a national currency came in the early days of the Civil War when Congress approved the Legal Tender Act of 1862 , allowing the issue of $150 million in national notes known as greenbacks and mandating that paper money be issued and accepted in lieu of gold and ...
A $5 United States Note of the series of 1862 popularly known as a "greenback" from the color of ink used on the reverse. The American Civil War of 1861 to 1865 greatly affected the financial system of the United States of America, creating vast new war-related expenditures while disrupting the flow of tax revenue from the Southern United States, organized as the Confederate States of America.
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United States Notes ("Greenback") (featured picture set) (9 F) United States Notes, ... Greenback (1860s money) H. Hepburn v. Griswold; Homer Lee Bank Note Company; I.