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United States Note

Large-sized Series of 1880 United States Notes; the $20 note displays Alexander Hamilton and a red scalloped Treasury seal, and the $10 note displays Daniel Webster and a large red spiked Treasury seal

A United States Note, also known as a Legal Tender Note, is a type of paper money that was issued from 1862 to 1971 in the United States. Having been current for 109 years, they were issued for longer than any other form of U.S. paper money. They were known popularly as "greenbacks", a name inherited from the earlier greenbacks, the Demand Notes, that they replaced in 1862. Often termed Legal Tender Notes, they were named United States Notes by the First Legal Tender Act, which authorized them as a form of fiat currency. 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:

This note is a legal tender at its face value for all debts public and private

They were originally issued directly into circulation by the U.S. Treasury to pay expenses incurred by the Union during the American Civil War. During the next century, the legislation governing these notes was modified many times and numerous versions were issued by the Treasury.

United States Notes that were issued in the large-size format, before 1929, differ dramatically in appearance when compared to modern American currency, but those issued in the small-size format, starting 1929, are very similar to contemporary Federal Reserve Notes of the same denominations with the distinction of having red U.S. Treasury Seals and serial numbers in place of green ones. Also, while a variety of denominations were issued as United States Notes during the large-size era, only the $1, $2, $5, and $100 denominations were ever issued as small-size notes.

Existing United States Notes are still fully usable and are considered legal tender. However, as no United States Notes have been issued since January 1971, most issues are now becoming increasingly rare to find in circulation, and command higher prices than face value as items of numismatic interest.

History

Demand Notes

Comparison of a $5 Demand Note (upper image) and an 1862 issue $5 United States Note (lower image) in which the words "On Demand" and the phrase "Receivable in Payment of All Public Dues" are removed and the Treasury Seal is added

During 1861, the first year of the American Civil War, the expenses incurred by the Union Government much exceeded its limited revenues from taxation, and borrowing was the main vehicle for financing the war. The Act of July 17, 1861[2] authorized United States Secretary of the Treasury Salmon P. Chase to raise money via the issuance of $50,000,000 in Treasury Notes payable on demand.[3] These Demand Notes were paid to creditors directly and used to meet the payroll of soldiers in the field. While issued within the legal framework of Treasury Note Debt, the Demand Notes were intended to circulate as currency and were of the same size as banknotes and closely resembled them in appearance.[4] During December 1861, economic conditions deteriorated and a suspension of specie payment caused the government to cease redeeming the Demand Notes as coins.

The Legal Tender Acts

A political cartoon from the 1864 U.S. presidential election depicting Secretary Fessenden of the Lincoln administration operating "Chase's Mill" at left to flood the country with Greenbacks.

The beginning of 1862 found the Union's expenses increasing, and the government was having trouble funding the escalating war. U.S. Demand Notes—which were used, among other things, to pay Union soldiers—were unredeemable, and the value of the notes began to deteriorate. Congressman and Buffalo banker Elbridge G. Spaulding prepared a bill, based on the Free Banking Law of New York, that eventually became the National Banking Act of 1863.[5]

Recognizing, however, that his proposal would take many months to pass Congress, during early February Spaulding introduced another bill to permit the U.S. Treasury to issue $150 million in notes as legal tender.[6] This caused tremendous controversy in Congress, as hitherto the Constitution had been interpreted as not granting the government the power to issue a paper currency. "The bill before us is a war measure, a measure of necessity, and not of choice," Spaulding argued before the House, adding, "These are extraordinary times, and extraordinary measures must be resorted to in order to save our Government, and preserve our nationality." Spaulding justified the action as a "necessary means of carrying into execution the powers granted in the Constitution 'to raise and support armies', and 'to provide and maintain a navy'".[7] Despite strong opposition, President Abraham Lincoln signed the First Legal Tender Act,[8] enacted February 25, 1862, into law, authorizing the issuance of United States Notes as a legal tender—the paper currency soon to be known as "greenbacks".

Initially, the emission was limited to $150,000,000 total face value between the new Legal Tender Notes and the existing Demand Notes. The Act also intended for the new notes to be used to replace the Demand Notes as soon as practical. The Demand Notes had been issued in denominations of $5, $10, and $20, and these were replaced by United States Notes nearly identical in appearance on the obverse. In addition, notes of entirely new design were introduced in denominations of $50, $100, $500 and $1,000. The Demand Notes' printed promise of payment "On Demand" was removed and the statement "This Note is a Legal Tender" was added.

Legal tender status guaranteed that creditors would have to accept the notes despite the fact that they were not backed by gold, bank deposits, or government reserves, and had no interest. However, the First Legal Tender Act did not make the notes an unlimited legal tender as they could not be used by merchants to pay customs duties on imports and could not be used by the government to pay interest on its bonds. The Act did provide that the notes be receivable by the government for short term deposits at 5% interest, and for the purchase of 6% interest 20-year bonds at par. The rationale for these terms was that the Union government would preserve its credit-worthiness by supporting the value of its bonds by paying their interest in gold. Early in the war, customs duties were a large part of government tax revenue and by making these payable in gold, the government would generate the coin necessary to make the interest payments on the bonds. Lastly, by making the bonds available for purchase at par in United States Notes, the value of the latter would be confirmed as well.[3] The limitations of the legal tender status were quite controversial. Thaddeus Stevens, the Chairman of the House of Representatives Committee of Ways and Means, which had authored an earlier version of the Legal Tender Act that would have made United States Notes a legal tender for all debts, denounced the exceptions, calling the new bill "mischievous" because it made United States Notes an intentionally depreciated currency for the masses, while the banks who loaned to the government got "sound money" in gold. This controversy would continue until the removal of the exceptions during 1933.

By the First Legal Tender Act, Congress limited the Treasury's emission of United States Notes to $150,000,000; however, by 1863, the Second Legal Tender Act,[9] enacted July 11, 1862, a Joint Resolution of Congress,[10] and the Third Legal Tender Act,[11] enacted March 3, 1863, had expanded the limit to $450,000,000, the option to exchange the notes for United States bonds at par had been revoked, and notes of $1 and $2 denominations had been introduced as the appearance of fiat currency had per Gresham's law driven even silver coinage out of circulation. As a result of this inflation, the greenback began to trade at a substantial discount from gold, which prompted Congress to pass the short-lived Anti-Gold Futures Act of 1864, which was soon repealed after it seemed to accelerate the decrease of greenback value.

The largest amount of greenbacks outstanding at any one time was calculated as $447,300,203.10.[12] The Union's reliance on expanding the circulation of greenbacks eventually ended with the emission of Interest Bearing and Compound Interest Treasury Notes, and the passage of the National Banking Act. However, the end of the war found the greenbacks trading for only about half of their nominal value in gold.[3] The Secret Service was founded on July 5, 1865, to minimize counterfeiting, which accounted for up to half of the currency.[13]

Post Civil War

Series of 1901 $10 Legal Tender depicting military explorers Meriwether Lewis, William Clark, and an American bison

At the end of the American Civil War, some economists, such as Henry Charles Carey, argued for building on the precedent of non-interest-based fiat money and making the greenback system permanent.[14] However, Secretary of the Treasury McCulloch argued that the Legal Tender Acts had been war measures, and that the United States should soon reverse them and return to the gold standard. The House of Representatives voted overwhelmingly to endorse the Secretary's argument.[15] With an eventual return to gold convertibility in mind, the Funding Act of April 12, 1866[16] was passed, authorizing McCulloch to retire $10 million of the Greenbacks within six months and up to $4 million per month thereafter. This he proceeded to do until only $356,000,000 were outstanding during February 1868. By this time, the wartime economic prosperity was ended, the crop harvest was poor, and a financial panic in Great Britain caused a recession and a sharp decrease of prices in the United States.[17] The contraction of the money supply was blamed for the deflationary effects, and caused debtors to agitate successfully for a halt to the notes' retirement.[18]

During the early 1870s, Treasury Secretaries George S. Boutwell and William Adams Richardson maintained that, though Congress had mandated $356,000,000 as the minimum Greenback circulation, the old Civil War statutes still authorized a maximum of $400,000,000[nb 1]—and thus they had at their discretion a "reserve" of $44,000,000. While the Senate Finance Committee under John Sherman disagreed, being of the opinion that the $356,000,000 was a maximum as well as a minimum, no legislation was passed to assert the committee's opinion. Starting in 1872, Boutwell and Richardson used the "reserve" to counteract seasonal demands for currency, and eventually expanded the circulation of the Greenbacks to $382,000,000 in response to the Panic of 1873.[19]

In June 1874, Congress established a maximum for Greenback circulation of $382,000,000, and in January 1875, approved the Specie Payment Resumption Act, which authorized a reduction of the circulation of Greenbacks towards a revised limit of $300,000,000, and required the government to redeem them for gold, on demand, after January 1, 1879. As a result, the currency strengthened and by April 1876, the notes were on par with silver coins which then began to re-emerge into circulation.[20] On May 31, 1878, the contraction in the circulation was halted at $346,681,016—a level which would be maintained for almost 100 years afterwards.[21] While $346,681,016 was a significant figure at the time, it is now a very small fraction of the total currency in circulation in the United States. The year 1879 found Sherman, now Secretary of the Treasury, in possession of sufficient specie to redeem notes as requested, but as this brought the value of the greenbacks into parity with gold for the first time since the Specie Suspension of December 1861, the public voluntarily accepted the greenbacks as part of the circulating medium.[15]

While the United States Notes had been used as a form of debt issuance during the Civil War, afterwards they were used as a way of moderately influencing the money supply by the federal government—such as through the actions of Boutwell and Richardson. During the Panic of 1907, President Theodore Roosevelt attempted to increase liquidity in the markets by authorizing the Treasury to issue more Greenbacks, but the Aldrich–Vreeland Act provided for the needed flexibility by the National Bank Note supply instead. Eventually, the perceived need for an elastic currency was addressed with the Federal Reserve Notes authorized by the Federal Reserve Act of 1913, and attempts to alter the circulating quantity of United States Notes ended.

End of the United States Note

Soon after private ownership of gold was banned in 1933 (a ban that would be lifted in 1974), all of the remaining types of circulating currency, National Bank Notes, silver certificates, Federal Reserve Notes, and United States Notes, were redeemable by individuals only for silver. Eventually, even silver redemption stopped in June 1968, during a time in which all U.S. currency (both coins and paper currency) was changed to fiat currency. For the general public, there was then little to distinguish United States Notes from Federal Reserve Notes. As a result, the public circulation of United States Notes, in the form of $2 and $5 bills was discontinued in August 1966, and replaced with $5 Federal Reserve Notes and, eventually, $2 Federal Reserve Notes as well. United States Notes became rare in hand-to-hand commerce and also beginning in 1966, the Treasury converted the outstanding balance into new $100 United States Notes, the majority of which sat unissued in bank vaults. Series 1966 and Series 1966A $100 United States Notes were printed from 1966 to 1969, with distribution into public circulation officially ending January 21, 1971.[22]

In September 1994, the Riegle Improvement Act released the Treasury from its long-standing obligation to keep United States Notes in circulation. Just prior to the Riegle act, the treasury considered releasing its large remaining stockpile of unissued $100 United States Notes into general circulation, but with the recently redesigned series 1996 $100 Federal Reserve Note, it was decided confusion would likely arise with the sudden appearance of two very different $100 notes in circulation.[23] The Treasury announced in 1996 that the remaining stock of $100 United States Notes had been destroyed.[24]

Comparison to Federal Reserve Notes

Both United States Notes and Federal Reserve Notes have been legal tender since the gold recall of 1933. Both have been used in circulation as money in the same way. However, the issuing authority for them came from different statutes.[22] United States Notes are, depending on their issue, redeemable directly for precious metal – as after the specie resumption of 1879 which authorized federal officials to do so if requested. The difference between a United States Note and a Federal Reserve Note is that a United States Note represented a "bill of credit"[clarification needed] and, since it was issued by the government itself and does not involve either lending or borrowing, was inserted by the Treasury directly into circulation free of interest. The twelve Federal Reserve Banks issue them into circulation pursuant to the Federal Reserve Act of 1913. A commercial bank belonging to the Federal Reserve System can obtain Federal Reserve Notes from the Federal Reserve Bank in its district whenever it wishes. It must pay for them in full, dollar for dollar, by drawing down its account with its district Federal Reserve Bank.[22]

Characteristics

The size of the United States Note changed from large (gray) to small (green) with plate position letters and the slightly smaller modern Federal Reserve Note (blue) super-imposed on bottom left 1928-size note

Like all U.S. currency, United States Notes were produced in a large sized format until 1929, at which time the notes' sizes were reduced to the small-size format of the present day.[nb 2] Per the Treasury Department Appropriation Bill of 1929, notes issued before October 1928 were 7+716 × 3+964 inches and later issues were to be 6+516 × 2+1116 inches, which allowed the Treasury Department to produce 12 notes per 16+14 × 13+14 inch sheet of paper that previously would yield 8 notes at the old size.[26]

The original large-sized Civil War issues were dated 1862 and 1863, and issued in denominations of $1, $2, $5, $10, $20, $50, $100, $500 and $1,000.[27] The United States Notes were dramatically redesigned for the Series of 1869, the so-called Rainbow Notes. The notes were again redesigned for the Series of 1874, 1875 and 1878. The Series of 1878 included, for the first and last time, notes of $5,000 and $10,000 denominations. The final across-the-board redesign of the large-sized notes was the Series of 1880. Individual denominations were redesigned in 1901, 1907, 1917 and 1923.

On small-sized United States Notes, the U.S. Treasury Seal and the serial numbers are printed in red (contrasting with Federal Reserve Notes, where they appear in green). By the time the treasury adopted the small-size format in 1928, the Federal Reserve System had existed for fifteen years and there had been a decline in the need for United States Notes; the notes were mainly issued in $2 and $5 denominations in the Series years of 1928, 1953, and 1963. There was a limited issue of $1 notes in the Series of 1928, most of which were released in 1948 in Puerto Rico, and an issue of $100 notes in the Series year of 1966, mainly to satisfy the legacy legal requirement of maintaining the mandated quantity in circulation after the $2 and $5 denominations had been discontinued in August 1966. The BEP also printed but did not issue $10 notes in the 1928 Series. An example was displayed at the 1933 Worlds Fair in Chicago.

Section 5119(b)(2) of Title 31, United States Code, was amended by the Riegle Community Development and Regulatory Improvement Act of 1994 (Public Law 103–325) to read as follows: "The Secretary shall not be required to reissue United States currency notes upon redemption." This does not change the legal tender status of United States Notes nor does it require a recall of those notes already in circulation. This provision means that United States Notes are to be canceled and destroyed but not reissued. This will eventually result in a decrease in the amount of these notes outstanding.[28]

Large-size United States Notes (1862–1923)

Complete type set of United States Notes (aka Legal Tender)
Value Year Fr. #[29] Image Portrait[nb 3]
000001$1 1862–63 Fr.16c ChaseSalmon P. Chase
(Joseph P. Ourdan)[30]
000001$1 1869 Fr.18 WashingtonGeorge Washington
000001$1 1878 Fr.27 WashingtonGeorge Washington
000001$1 1880 Fr.29 WashingtonGeorge Washington
000002$2 1862–63 Fr.41 HamiltonAlexander Hamilton
000002$2 1869 Fr.42 JeffersonThomas Jefferson
000002$2 1875 Fr.47 JeffersonThomas Jefferson
000002$2 1880 Fr.52 JeffersonThomas Jefferson
000005$5 1862–63 Fr.61a HamiltonFreedom
(Owen G. Hanks, eng; Thomas Crawford, art)[31]
Alexander Hamilton
000005$5 1869 Fr.64 JacksonAndrew Jackson
000005$5 1875 Fr.68 JacksonAndrew Jackson
000005$5 1880 Fr.72 JacksonAndrew Jackson
000010$10 1862–63 Fr.95b LincolnAbraham Lincoln
(Frederick Girsch);[32]
Eagle; Art
000010$10 1869 Fr.96 WebsterDaniel Webster
000010$10 1875 Fr.98 WebsterDaniel Webster
000010$10 1880 Fr.102 WebsterDaniel Webster
000010$10 1901 Fr.114 LewisLewis & Clark
000010$10 1923 Fr.123 JacksonAndrew Jackson
000020$20 1862–63 Fr.126b LibertyLiberty
000020$20 1869 Fr.127 HamiltonAlexander Hamilton
000020$20 1875 Fr.128 HamiltonAlexander Hamilton
000020$20 1880 Fr.145 HamiltonAlexander Hamilton
000050$50 1862–63 Fr.148a HamiltonAlexander Hamilton
(Joseph P. Ourdan)[33]
000050$50 1869 Fr.151 ClayHenry Clay
000050$50 1874 Fr.152 FranklinBenjamin Franklin
000050$50 1880 Fr.164 FranklinBenjamin Franklin
000100$100 1862–63 Fr.167 Spread EagleVignette spread eagle
(Joseph P. Ourdan)[34]
000100$100 1869 Fr.168 LincolnAbraham Lincoln
000100$100 1878 Fr.171 LincolnAbraham Lincoln
000100$100 1880 Fr.181 LincolnAbraham Lincoln
000500$500 1862–63 Fr.183c GallatinAlbert Gallatin
000500$500 1869 Fr.184 AdamsJohn Quincy Adams
(Charles Burt)[35]
000500$500 1875 Fr.185b MansfieldJoseph K. Mansfield
000500$500 1880 Fr.185l MansfieldJoseph K. Mansfield
001000$1,000 1862–63 Fr.186e MorrisRobert Morris
(Charles Schlecht)
001000$1,000 1869 Fr.186f ClintonDeWitt Clinton
001000$1,000 1878 Fr.187a ClintonDeWitt Clinton
001000$1,000 1880 Fr.187k ClintonDeWitt Clinton
005000$5,000 1878 Fr.188 MadisonJames Madison
010000$10,000 1878 Fr.189 JacksonAndrew Jackson

Series 1928 United States Notes

United States Notes – First small-size issue, Series 1928 (Smithsonian Institution)
Image Value Dimensions Main Color
Obverse/Reverse Obverse Reverse
$1 United States Note 6.140 in × 2.610 in (155.956 mm × 66.294 mm) Green; Black George Washington Stylized "One Dollar"
$2 United States Note 6.140 in × 2.610 in (155.956 mm × 66.294 mm) Green; Black Thomas Jefferson Monticello
$5 United States Note 6.140 in × 2.610 in (155.956 mm × 66.294 mm) Green; Black Abraham Lincoln Lincoln Memorial

Series 1953 United States Notes

United States Notes – Small-size issue, Series 1953
Image Value Dimensions Main Color
Obverse/Reverse Obverse Reverse
$2 United States Note 6.140 in × 2.610 in (155.956 mm × 66.294 mm) Green; Black Thomas Jefferson Monticello
$5 United States Note 6.140 in × 2.610 in (155.956 mm × 66.294 mm) Green; Black Abraham Lincoln Lincoln Memorial

Series 1963 United States Notes

United States Notes – Small-size issue, Series 1963
Image Value Dimensions Main Color
Obverse/Reverse Obverse Reverse
$2 United States Note 6.140 in × 2.610 in (155.956 mm × 66.294 mm) Green; Black Thomas Jefferson Monticello
$5 United States Note 6.140 in × 2.610 in (155.956 mm × 66.294 mm) Green; Black Abraham Lincoln Lincoln Memorial

Series 1966 United States Notes

United States Notes – Small-size issue, Series 1966
Image Value Dimensions Main Color
Obverse/Reverse Obverse Reverse
$100 United States Note 6.140 in × 2.610 in (155.956 mm × 66.294 mm) Green; Black Benjamin Franklin Independence Hall

Public debt of the United States

As of December 2012, the U.S. Treasury calculates that $239 million in United States notes are in circulation and, in accordance with debt ceiling legislation, excludes this amount from the statutory debt limit of the United States. The $239 million excludes $25 million in United States Notes issued prior to July 1, 1929, determined pursuant to Act of June 30, 1961, 31 U.S.C. 5119, to have been destroyed or irretrievably lost.[36]

Politics and controversy

The United States Notes were introduced as fiat money rather than the precious metal medium of exchange that the United States had traditionally used. Their introduction was thus contentious.

The United States Congress had enacted the Legal Tender Acts during the U.S. Civil War when southern Democrats were absent from the Congress, and thus their Jacksonian hard money views were underrepresented. After the war, the Supreme Court ruled on the Legal Tender Cases to determine the constitutionality of the use of greenbacks. The 1870 case Hepburn v. Griswold found unconstitutional the use of greenbacks when applied to debts established prior to the First Legal Tender Act as the five Democrats on the Court, Nelson, Grier, Clifford, Field, and Chase, ruled against the Civil War legislation in a 5–3 decision. Secretary Chase had become Chief Justice of the United States and a Democrat, and spearheaded the decision invalidating his own actions during the war. However, Grier retired from the Court, and President Grant appointed two new Republicans, Strong and Bradley, who joined the three sitting Republicans, Swayne, Miller, and Davis, to reverse Hepburn, 5–4, in the 1871 cases Knox v. Lee and Parker v. Davis. In 1884, the Court, controlled 8–1 by Republicans, granted the federal government very broad power to issue Legal Tender paper through the case Juilliard v. Greenman, with only the lone remaining Democrat, Field, dissenting.[19]

The states in the far west stayed loyal to the Union, but also had hard money sympathies. During the specie suspension from 1862 to 1878, western states used the gold dollar as a unit of account whenever possible and accepted greenbacks at a discount wherever they could.[3] The preferred forms of paper money were gold certificates and National Gold Bank Notes, the latter having been created specifically to address the desire for hard money in California.

During the 1870s and 1880s, the Greenback Party existed for the primary purpose of advocating an increased circulation of United States Notes as a way of creating inflation according to the quantity theory of money. However, as the 1870s unfolded, the market price of silver decreased with respect to gold, and inflationists found a new cause in the Free Silver movement. Opposition to the resumption of specie convertibility of the Greenbacks during 1879 was accordingly muted.

See also

Footnotes

  1. ^ While the three Legal Tender Acts had authorized $450,000,000 of notes, the Second Legal Tender Act, in taking the total from $150,000,000 to $300,000,000 had reserved $50,000,000 of the increase for the purpose of redeeming balances in a temporary deposit program. The Act of June 30, 1864, reiterated this limitation, and as the temporary loan program had ceased to exist, only $400,000,000 of the $450,000,000 ceiling were available.
  2. ^ Large size notes represent the earlier types or series of U.S. banknotes. Their "average" dimension is 7.375 in × 3.125 in (187 mm × 79 mm). Small size notes (described as such due to their size relative to the earlier large size notes) are an "average" 6.125 in × 2.625 in (156 mm × 67 mm), the size of modern U.S. currency. "Each measurement is ±0.08 in (2 mm) to account for margins and cutting".[25]
  3. ^ Names in parentheses are either the engravers or artists responsible for the concept and/or initial design.

Notes

  1. ^ Friedberg, Arthur L. and Ira S., 2006, Paper Money of the United States, 18th Edition, Clifton, NJ, The Coin & Currency Institute, Inc. ISBN 0-87184-518-0
  2. ^ United States Congress. Act of July, 17 1861 Chapter V. Washington D.C.: 1861
  3. ^ a b c d Mitchell, Wesley Clair, "A History of the Greenbacks With Special Reference To the Economic Consequences of Their Issue 1862–65", University of Chicago, Chicago, 1903.
  4. ^ Chittenden, L.E., Recollections of President Lincoln and His Administration, Harper & Brothers, New York, 1891.
  5. ^ D.S. & Heidler, J.T. (2000). Heidler, Encyclopedia of the American Civil War: a political, social, and military history (p. 1168). New York, NY: W.W. Norton
  6. ^ McPherson, J.M. (1988). Battle cry of freedom: the Civil War era (p.445). New York, NY: Oxford University Press
  7. ^ Spaulding, E.G. (1869). History of the legal tender paper money issued during the great rebellion (p.29). Buffalo, NY: Express Printing.
  8. ^ ch. 33, 12 Stat. 345
  9. ^ ch. 142, 12 Stat. 532
  10. ^ United States Congress. Resolution of January 17, 1863, No. 9. Washington D.C.: 1863
  11. ^ ch. 73, 12 Stat. 709
  12. ^ Backus, Charles K., "The Contraction of the Currency", The Honest Money League of the Northwest, Chicago, 1878.
  13. ^ "How much currency is circulating in the economy, and how much of it is counterfeit? Is currency included in the money supply statistics?". Federal Reserve Bank of San Francisco. Retrieved January 16, 2022.
  14. ^ Carey, Henry Charles (March 1865) The Way to Outdo England Without Fighting Her
  15. ^ a b "United States Notes", John Joseph Lalor, Cyclopaedia of Political Science, Political Economy, and of the Political History of the United States, Rand McNally & Co, Chicago, 1881.
  16. ^ United States Congress. Act of April 12, 1866 Chapter XXXIII. Washington D.C.: 1866
  17. ^ Studenski, Paul; Krooss, Hermand Edward (1952). Financial History of the United States, New York, NY: McGraw-Hill. ISBN 1-58798-175-0.
  18. ^ The Greenback Question. Retrieved May 30, 2009.
  19. ^ a b Timberlake, Richard H.(1993). Monetary Policy in the United States: An Intellectual and Institutional History, Chicago: University of Chicago Press. ISBN 978-0-226-80384-5.
  20. ^ Bowers, Q. David; David Sundman (2006). 100 GREATEST AMERICAN CURRENCY NOTES, Atlanta, Georgia: Whitman Publishing. ISBN 0-7948-2006-9.
  21. ^ The National Balance Sheet; It Includes $71,000,000 of Debits Which Might Well Be Dropped" New York Times May 24, 1903, Sunday
  22. ^ a b c U.S. Treasury – FAQ: Legal Tender Status
  23. ^ Riegle Community Development and Regulatory Improvement Act of 1994, see Sec. 602(f)(4)
  24. ^ Hessler, Gene and Chambliss, Carlson (2006). The Comprehensive Catalog of U.S. Paper Money, 7th edition, Port Clinton, Ohio: BNR Press ISBN 0-931960-66-5.
  25. ^ Friedberg, p. 7.
  26. ^ Treasury Department Appropriation Bill, 1929. U.S. Government Printing Office. 1928. p. 105.
  27. ^ "Chronology of Large-Size Notes". www.uspapermoney.info. Retrieved June 6, 2009.
  28. ^ "Historical Legislation - Riegle Improvement Act". www.bep.treas.gov. Bureau of Engraving and Printing, U.S. Department of the Treasury. Retrieved February 9, 2015.
  29. ^ Friedberg numbering system, http://www.panix.com/~clay/currency/catalog-numbers.html
  30. ^ Hessler, 2004, p. 24.
  31. ^ Hessler, 2004, p. 20.
  32. ^ Hessler, 2004, p. 22.
  33. ^ Hessler, 2004, p. 27.
  34. ^ Hessler, 2004, p. 28.
  35. ^ Hessler, 2004, p. 36.
  36. ^ "Monthly Statement of the Public Debt of the United States" (PDF). United States Treasury Department. December 31, 2012. Retrieved January 8, 2013.

References

Further reading

External links

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يفتقر محتوى هذه المقالة إلى الاستشهاد بمصادر. فضلاً، ساهم في تطوير هذه المقالة من خلال إضافة مصادر موثوق بها. أي معلومات غير موثقة يمكن التشكيك بها وإزالتها. (نوفمبر 2022) هذه المقالة يتيمة إذ تصل إليها مقالات أخرى قليلة جدًا. فضلًا، ساعد بإضافة وصلة إليها في مقالات متعلقة بها. (…

Andante cantabile L 10 Page de titre du manuscrit autographe. Genre piano à quatre mains Musique Claude Debussy Durée approximative 7 min Dates de composition 1881 Création 14 décembre 1989Paris, Bibliothèque nationale de France Interprètes Christian Ivaldi et Noël Lee modifier  L'Andante cantabile est une œuvre de Claude Debussy pour piano à quatre mains composée en 1881. Présentation Claude Debussy compose l'Andante cantabile au début de l'année 1881. Le morceau est lég…

This article relies largely or entirely on a single source. Relevant discussion may be found on the talk page. Please help improve this article by introducing citations to additional sources.Find sources: Aisa Des Hai Mera TV series – news · newspapers · books · scholar · JSTOR (May 2015) Indian TV series or programme Aisa Des Hai MeraDirected byLekh TandonRajesh SethiJitu AroraOpening themeAisa Des Hai Mera by Kunal GanjawalaCountry of originIn…

Colonial flying insect of genus Apis For other uses, see Honey bee (disambiguation). Honey beeTemporal range: Oligocene–Recent PreꞒ Ꞓ O S D C P T J K Pg N Western honey bee on the bars of a horizontal top-bar hive Scientific classification Domain: Eukaryota Kingdom: Animalia Phylum: Arthropoda Class: Insecta Order: Hymenoptera Family: Apidae Clade: Corbiculata Tribe: ApiniLatreille, 1802 Genus: ApisLinnaeus, 1758 Type species Apis melliferaLinnaeus, 1758 Species †Apis lithohermaea †Api…

De troubadourBerkas:Lenny Kuhr - De troubadour.jpgPerwakilan Kontes Lagu Eurovision 1969NegaraBelandaArtisLenny KuhrBahasaDutchKomposerDavid HartsemaPenulis lirikLenny KuhrKonduktorFrans de KokHasil FinalHasil final1Poin di final18Kronologi partisipasi◄ Morgen (1968)   Waterman (1970) ► De troubadour adalah sebuah lagu yang dinyanyikan dalam bahasa Belanda oleh Lenny Kuhr mewakili Belanda. Lagu tersebut menjadi salah satu dari empat pemenang di Kontes Lagu Eurovision 1969 bersama d…

F6U Pirate Jenis Pesawat tempur Pembuat Chance Vought Penerbangan perdana 2 Oktober 1946 Status Dibatalkan tahun 1950 Jumlah 33 Vought F6U Pirate adalah salah satu dari sekian banyak pesawat tempur jet pertama Angkatan Laut Amerika Serikat dengan sayap lurus, yang dibuat oleh perusahaan Chance Vought Aircraft Co. Pesawat ini dibuat berdasarkan kontrak dari Angkatan Laut Amerika Serikat kepada beberapa perusahaan pembuat pesawat pada Desember 1944 ketika perang di Pasifik berkecamuk dan para pemi…

الحرب الصغيرة (كوبا)معلومات عامةجزء من تاريخ كوبا المكان كوبا تاريخ البدء 26 أغسطس 1879 تاريخ الانتهاء سبتمبر 1880 المشاركون كوباإسبانيا حرب الأعوام العشرة حرب استقلال كوبا تعديل - تعديل مصدري - تعديل ويكي بيانات الحرب الصغيرة (بالإسبانية: Guerra Chiquita)‏ كانت الثانية من بين ثلاثة صرا…

This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these template messages) The topic of this article may not meet Wikipedia's notability guideline for television. Please help to demonstrate the notability of the topic by citing reliable secondary sources that are independent of the topic and provide significant coverage of it beyond a mere trivial mention. If notability cannot be shown, the article is likely to be mer…

This article uses bare URLs, which are uninformative and vulnerable to link rot. Please consider converting them to full citations to ensure the article remains verifiable and maintains a consistent citation style. Several templates and tools are available to assist in formatting, such as reFill (documentation) and Citation bot (documentation). (September 2022) (Learn how and when to remove this template message) Dam in Himachal Pradesh, IndiaNathpa Jhakri DamLocation of Nathpa Jhakri Dam in Ind…

Museo Nacional de Colombia Foto panorámica de la actual sede (2023).UbicaciónPaís Colombia ColombiaLocalidad BogotáDirección Carrera 7, n.° 28-66Coordenadas 4°36′56″N 74°04′06″O / 4.6155, -74.0683Tipo y coleccionesSuperficie 13 000 m²Historia y gestiónCreación 28 de julio de 1823Inauguración 28 de julio de 1823 (200 años)2 de mayo de 1948, (75 años)(actual edificio)Director William Alfonso López RosasInformación del edificioRehabil…

Si ce bandeau n'est plus pertinent, retirez-le. Cliquez ici pour en savoir plus. Cet article ne cite pas suffisamment ses sources (juillet 2017). Si vous disposez d'ouvrages ou d'articles de référence ou si vous connaissez des sites web de qualité traitant du thème abordé ici, merci de compléter l'article en donnant les références utiles à sa vérifiabilité et en les liant à la section « Notes et références » En pratique : Quelles sources sont attendues ? Comme…

Algunas operaciones que se realizan con un troquel. Se le llama troquel a la herramienta que, montada en una prensa permite realizar operaciones diversas tales como: Cizallado Corte de sobrante Doblado Picado Perforado Estampado Embutido Marcado Rasurado, etc Usos más frecuentes Estas prensas se emplean en operaciones de corte, estampación, doblado y embuticiones pequeñas; no son adecuadas para embuticiones profundas al aplicar la fuerza de forma rápida y no constante. El desarrollo de prens…

2022 film by Adrian Langley BunkerPosterDirected byAdrian LangleyWritten byMichael HuntsmanProduced by James Huntsman Patrick Rizzotti Starring Roger Clark Luke Baines Patrick Moltane Kayla Radomski Julian Feder CinematographyMatthew QuinnEdited byEvan PeaseMusic byAndrew Morgan SmithProductioncompanyBuffalo FilmWorksDistributed byBlue Fox EntertainmentRelease date October 8, 2022 (2022-10-08) (Buffalo International Film Festival) Running time108 minutesCountryUnited StatesLan…

Mon National DayOfficial nameတ္ၚဲကောန်ဂကူမန်Observed byMon peopleTypeCulturalDateFirst waning day in TabodweFrequencyAnnualRelated toMon State Day 61st Mon National Day celebration in London Mon flag used during the Hongsawadee Kingdom, AD 573-1757 Mon National Day (Mon: တ္ၚဲကောန်ဂကူမန်, rungmoam kaun kay kaw mon; Burmese: မွန်အမျိုးသားနေ့; Thai: วันชาติมอญ) is an annual nati…

Species of plant Rhododendron hunnewellianum Scientific classification Kingdom: Plantae Clade: Tracheophytes Clade: Angiosperms Clade: Eudicots Clade: Asterids Order: Ericales Family: Ericaceae Genus: Rhododendron Species: R. hunnewellianum Binomial name Rhododendron hunnewellianumRehder & E.H. Wilson Rhododendron hunnewellianum (岷江杜鹃), named in honor of H. H. Hunnewell and Walter Hunnewell, is a rhododendron species native to southern Gansu and central and northern Sichuan in C…

Logo Der Arbeitskreis Darmstädter Signal (Ak-DS) ist ein Zusammenschluss aktiver und ehemaliger Offiziere, Unteroffiziere und Zivilbeschäftigter der Bundeswehr, die sich der Friedensbewegung verbunden fühlen. Sprecher des Arbeitskreises ist Major a. D. Florian Pfaff. Die Mitglieder des Arbeitskreises verfolgen die Politik in und um die Bundeswehr kritisch, lehnen diese jedoch nicht ab. Für das Darmstädter Signal besteht die Rolle der Bundeswehr darin, die Freiheitliche demokratische Gr…

この記事は検証可能な参考文献や出典が全く示されていないか、不十分です。出典を追加して記事の信頼性向上にご協力ください。(このテンプレートの使い方)出典検索?: デイ・アウト・ウィズ・トーマス – ニュース · 書籍 · スカラー · CiNii · J-STAGE · NDL · dlib.jp · ジャパンサーチ · TWL(2015年11月) デイ・アウト・ウィズ・�…

Deportes La SerenaDatos generalesNombre Club de Deportes La Serena S.A.D.P.Apodo(s) Granates, PapayerosFundación 9 de diciembre de 1955 (67 años)Presidente Cristian ContadorEntrenador VacanteInstalacionesEstadio La PortadaCapacidad 18 500 espectadoresUbicación Av. José Manuel Balmaceda s/nLa Serena, Chile Titular Alternativo Última temporadaLiga Primera División(2023) 7.ºTítulos 3 (por última vez en 1996)Copa Copa Chile(2023) Cuartos Zona NorteTítulos 1 (por última vez …

Painting by Caravaggio You can help expand this article with text translated from the corresponding article in Italian. (January 2023) Click [show] for important translation instructions. Machine translation, like DeepL or Google Translate, is a useful starting point for translations, but translators must revise errors as necessary and confirm that the translation is accurate, rather than simply copy-pasting machine-translated text into the English Wikipedia. Do not translate text that appe…

この項目では、元プロ野球選手について説明しています。元お笑いタレントについては「ビーム (お笑いコンビ)」をご覧ください。 吉野 誠 オリックス時代(2011年8月6日、QVCマリンフィールドにて)基本情報国籍 日本出身地 埼玉県大宮市(現:さいたま市見沼区)生年月日 (1977-11-19) 1977年11月19日(46歳)身長体重 182 cm86 kg選手情報投球・打席 左投左打ポジション 投手プ�…

1980s animated series For the 2010s animated series, see Rainbow Brite (2014 TV series). Rainbow BriteRainbow Brite title screenGenreAdventureFantasyCreated byHallmark CardsGarry GlissmeyerLanny JulianWritten byWoody KlingHoward R CohenFelicia MalianiDirected byBruno BianchiOsamu DezakiRich RudishVoices ofSee VoicesComposersShuki LevyHaim SabanCountry of originUnited StatesOriginal languageEnglishNo. of episodes13 episodes (+2 half-hour live-action specials and 4 read-along videos)ProductionExec…

Initiative Group for the Defense of Human Rights in the USSRИнициативная группа по защите прав человека в СССРFormation19 May 1969 (19 May 1969)FoundersPyotr Yakir, Victor Krasin, 15 dissidents Pyotr YakirVictor KrasinSergei KovalevMustafa DzhemilevTatyana VelikanovaNatalya GorbanevskayaTatyana KhodorovichAleksandr LavutAnatoly Levitin-KrasnovYury MaltsevGrigory PodyapolskyAnatoly YakobsonVladimir BorisovGenrikh AltunyanLeonid Plyushch Founded atMo…

The Lodge fireplace, decorated for the 85th Anniversary of Camp in 2005. Camp Archbald is a Girl Scout camp in Brooklyn Township, Susquehanna County, Pennsylvania.[1] It encompasses 230 acres (0.93 km2), including a 45-acre (180,000 m2) lake (Lake Ely[2]). Established in 1920, it is the second oldest Girl Scout camp in America. (Only Camp Bonnie Brae in Massachusetts has been serving girls longer.) Camp Archbald falls under the jurisdiction of Girl Scouts in the Heart o…

成虫(せいちゅう)とは、昆虫において十分に成長をし、これ以上の成長や変態をおこさない最終形態である。昆虫に類似した他の動物(蜘蛛類や多足類などの節足動物)に対しても使用する場合がある。より生物一般の用語としては、成体という。 一般的特徴 一般に認識されている昆虫の形態は、この成虫のものである。昆虫の分類は、基本的には成虫で行われる。昆…

Proposed Kriegsmarine aircraft carriers Class overview Operators Kriegsmarine Succeeded byGerman aircraft carrier II Planned2 Completed0 Cancelled2 General characteristics TypeAircraft carrier Displacement Jade: 18,160 t (17,870 long tons; 20,020 short tons) Elbe: 17,527 long tons (17,808 t) Length203 m (666 ft 0 in) overall BeamHull: 22.6 m (74 ft 2 in) Flight Deck: 27 m (88 ft 7 in) DraftFull load: 8.85 m (29.0 ft)…

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