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Yankee Currency - Bank of Montgomery County
Union States - Pennsylvania
0,89 € inc. tax
Yankee Currency - Bank of Montgomery County - Summary

Yankee Currency - Bank of Montgomery County

Copy of historical banknote, feels and looks like the original.

State of Pensylvania, bank of Montgomery County

1 Dollar
Date: 1865

Description:

Honours 4 Union officers, all natives of Montgomery County (Clockwise: left to right, General Adam Slemmer, General Winfield Hancock, General Hartranft, Colonel Edwin Schall. The central portrait is of the bank.

General information:

When the Civil War started, there were two types of money in circulation in the North. The largest part was "hard" money. Silver and Gold coins of the U.S. government. The rest was papermoney, issued by prominent State Banks. As the war progressed, more and more hard money disappeared as people began to hoard coins.

In 1862, the U.S. government began issuing "Green backs" (as federal currency became called) to supplement the states papermoney. Green backs were soon in widespread use, amounting to more than half of the currency in circulation. Fractional currency ("Paper Coin") also became prominently used.

The Federal government passed strict banking laws in 1863, these laws along with heavy taxes soon caused most of the papermoney of private banks to disappear. The laws did not become effective in the South until after the war was over in 1865
Country:
Union (North)
Grading:
UNC - NEUF - KFR - Novo - Lujo
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