From the September 21, 2015, Coin World "Treasury notes fill gap to support War of 1812 finances" by Paul Gilkes.
Wars are expensive and so was the War of 1812. Issued between 1812 and 1815, these treasury notes became known as War of 1812 Notes and provided financial help for James Madison's government.
They received their authorization through four different legislative acts.
The Second Series was issued in 1813 and many consider them to be the first U.S. paper currency. They also served as interest-bearing reserves for banks. They were convertible to any kind of monmey and bore interest simultaneously.
--Brock-Perry
2012 marks the 200th anniversary of America's "Forgotten War," the War of 1812 that took place over three years, 1812 to 1815.
Battle of New Orleans.
Showing posts with label treasury notes. Show all posts
Showing posts with label treasury notes. Show all posts
Friday, October 16, 2015
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