BEAUTIFUL EXAMPLE 1862 GREENSBORO MUTUAL TRUST CO. 25 CENT CURRENCY.
THESE NOTES WERE CIRCULATED AS CURRENCY AND WERE REDEEMABLE WHEN PRESENTED IN SUMS OF EVEN DOLLARS. HAND SIGNED BY THE BANK TREASURER.
SHIPPING IS FIRST CLASS MAIL AT COST.
This period can be characterized by the dominance of private--non-governmental--paper money. The federal government struck coins, but never enough. Only for a brief time during the War of 1812 did the federal government issue paper money. The need for circulating money, not met by the feds, was filled by paper money issued by banks, merchants, businesses, and a myriad of other private enterprises. It was a chaotic time for our money. During the war, the Confederacy issued its own paper money. Many of the southern states also issued paper money, none more than North Carolina. At war's end, the federal government quickly established its monetary reforms thoughout the reunited country. The era of private money ended, paper money came to be widely accepted, and all citizens benefitted from stable, standardized money.
Last edited by Ghostflowers; Tue Mar 08 2022 11:35 PM.