bank of north america 1862 one dollar

This group likely had the best (most diverse) diet of all North American debt in full, (2) a national Bank of the U.S., (3) a tariff, and (4) an excise. One of the biggest was the introduction of paper money at the start of the of the North cheapened the paper dollar so much that circulating copper. States the Federal Government has one special organization, the Secret Serv- steel the Bank of North America vignette, originally done by Charles Heath. bank of north america 1862 one dollar

Bank of north america 1862 one dollar -

To pay for the war, the Confederate government issued a vast array of paper currencies -- at least seventy different types of currency, totaling more than 1.5 billion dollars, an incredible sum at that time. Making things even more confusing, state governments issued their own currencies -- as did banks, insurance companies, and businesses.


None of this paper money could be redeemed, or traded for, gold or silver -- as was common in the early nineteenth century. The Confederate government had no gold or silver to make coins. Instead, Confederate paper money was like a loan -- a promissory note or promise to pay at a later time. At the start of the war, when southerners expected to win the war, they were willing to trust that their paper dollars would continue to hold value. But as the South started to slide towards defeat, they lost faith in not only their chances of victory but their money as well.


Meanwhile, as governments struggled to meet expenses by printing more and more money, paper money had accumulated far beyond the value of the goods available to be bought. The Confederate army took men from productive farms and jobs and demanded tremendous resources to feed and clothe its troops. The Union blockade meant that importing goods from Europe was nearly impossible. Too much money, a lack of goods to buy, and a lack of faith in paper money resulted in rampant inflation -- rapidly rising prices of goods. Between late 1862 and early 1865, the price of wheat in North Carolina rose 1700 percent (17 times). The price of bacon rose 2500 percent, and the price of flour rose 2800 percent. By 1865, a pair of shoes cost as much as $600.


As we'll see later in this chapter, inflation made it difficult for some North Carolinians even to feed themselves. Surviving on the home front became almost as difficult as surviving in battle.


North Carolina currency


Below are some examples of paper money printed by the State North Carolina during the Civil War, all from the North Carolina Collection of UNC Libraries, and are available online through Documenting the American South.


The drawings and symbols on the money say a great deal about how southerners wanted to think of themselves and their new nation. As you look at each piece of currency, think about why the symbols were chosen.


1861
one-dollar note, 1861

This one-dollar note, dated October 12, 1861, is printed on plain paper. Like most North Carolina currency, its reverse had no design but simply said "one dollar." The figure at left is Minerva, the Roman goddess of wisdom, who appeared frequently on paper money at the time.


1862
ten-cent note, 1862

During the war, North Carolina issued paper money in denominations as small as five cents. This ten-cent note shows a well-clothed slave plowing a field.


ten-dollar note, 1861

Trains symbolized progress and prosperity, and they appeared on the currency of several states.


1863
ten-cent note, 1863

Fractional currencies -- that is, notes worth less than a dollar -- became impractical as prices skyrocketed later in the war. Literal handfuls of them were required to buy anything! The hornet’s nest on this 10-cent note symbolized defiance.


75 cent note, 1863

Unlike hornets, bees symbolized hard work (the "busy bee") as well as a united, single-minded society. The female figure represents commerce, and she is surrounded by the rewards of commercial enterprise.


two-dollar note, 1863

This two-dollar bill depicted the state capitol in Raleigh. Note that it says "Will pay two dollars to bearer at the Treasury on or before 1st Jan. 1866" -- paper money was, supposedly, redeemable in gold or silver, which was the only "real" money at the time.


five-dollar note, 1863

The female figure on this five-dollar bill is probably Minerva, and the steamship (note the wheel on its side) suggests industry and commerce.


1864
25-cent note, 1862

This 25-cent note shows Ceres, the Roman goddess of agriculture -- the centerpiece, of course, of the Southern economy. You might be surprised to see how Ceres is dressed! This kind of pose was a reminder of the Revolutionary era, when artists used Greek and Roman themes to portray classical virtues. By looking back to the American Revolution, the newly independent South tried to invoke its spirit (and its success).


By this point in the war, though, success was looking increasingly less likely for the South. This note, printed in January 1864, was part of the last issue of currency by the state government.

Источник: https://www.ncpedia.org/anchor/paper-money-civil-war

United States one-dollar bill

Current denomination of United States paper equivalent of currency

For the U.S. one-dollar coin, see United States dollar coin.

The United States one-dollar bill ($1) since 1876 has been the lowest value denomination of United States paper currency. An image of the first U.S. president (1789–1797), George Washington, based on the Athenaeum Portrait, a 1796 painting by Gilbert Stuart, is currently featured on the obverse, and the Great Seal of the United States is featured on the reverse. The one-dollar bill has the oldest overall design of all U.S. currency currently being produced (The current two-dollar bill obverse design dates from 1928, while the reverse appeared in 1976). The obverse design of the dollar bill seen today debuted in 1963 (the reverse in 1935) when it was first issued as a Federal Reserve Note (previously, one dollar bills were Silver Certificates).

The inclusion of the motto, "In God We Trust," on all currency was required by law in 1955,[3] and first appeared on paper money in 1957.

As of December 2018, the average life of a $1 bill in circulation is 6.6 years before it is replaced due to wear.[4] Approximately 42% of all U.S. currency produced in 2009 were one-dollar bills.[5] As of December 31, 2019, there were 12.7 billion one-dollar bills in circulation worldwide.[6]

History[edit]

Large size notes[edit]

First $1 bill issued in 1862 as a Legal Tender Note

(approximately 7⅜ × 3⅛ in ≅ 187 × 79  mm)

  • 1862: The first one-dollar bill was issued as a Legal Tender Note (United States Note) with a portrait of Salmon P. Chase, the Secretary of the Treasury who served under President Abraham Lincoln.[7]
  • 1869: The $1 United States Note was redesigned with a portrait of George Washington in the center and a vignette of Christopher Columbus sighting land to the left. The obverse of the note also featured overprinting of the word ONE numerous times in very small green type and blue tinting of the paper. Although this note is technically a United States Note, TREASURY NOTE appeared on it instead of UNITED STATES NOTE.
  • 1874: The Series of 1869 United States Note was revised. Changes on the obverse included removing the green and blue tinting, adding a red floral design around the word WASHINGTON D.C., and changing the term TREASURY NOTE to UNITED STATES NOTE. The reverse was completely redesigned. This note was also issued as Series of 1875 and 1878.
  • 1880: The red floral design around the words ONE DOLLAR and WASHINGTON D.C. on the United States Note was removed and replaced with a large red seal. Later versions also had blue serial numbers and a small seal moved to the left side of the note.
  • 1886: The first woman to appear on U.S. currency, Martha Washington, was featured on the $1 silver certificate. The reverse of the note featured an ornate design that occupied the entire note, excluding the borders.
  • 1890: One-dollar Treasury or "Coin Notes" were issued for government purchases of silver bullion from the silver mining industry. The reverse featured the large word ONE in the center surrounded by an ornate design that occupied almost the entire note.
  • 1891: The reverse of the Series of 1890 Treasury Note was redesigned because the treasury felt that it was too "busy," which would make it too easy to counterfeit. More open space was incorporated into the new design. The obverse was largely unchanged.
  • 1896: The famous "Educational Series" Silver Certificate was issued. The entire obverse was covered with artwork of allegorical figures representing "history instructing youth" in front of Washington D.C. The reverse featured portraits of George and Martha Washington surrounded by an ornate design that occupied almost the entire note.
  • 1899: The $1 Silver Certificate was again redesigned. The obverse featured a vignette of the United States Capitol behind a bald eagle perched on an American flag. Below that were small portraits of Abraham Lincoln to the left and Ulysses S. Grant to the right.
  • 1917: The obverse of the $1 United States Note was changed slightly with the removal of ornamental frames that surrounded the serial numbers.
  • 1918: The only large-sized, Federal Reserve Note-like $1 bill was issued as a Federal Reserve Bank Note (not to be confused with Federal Reserve Notes). Each note was an obligation of the issuing Federal Reserve Bank and could only be redeemed at that corresponding bank. The obverse of the note featured a borderless portrait of George Washington to the left and wording in the entire center. The reverse featured a bald eagle in flight clutching an American flag.
  • 1923: Both the one-dollar United States Note and Silver Certificate were redesigned. Both notes featured the same reverse and an almost identical obverse with the same border design and portrait of George Washington. The only difference between the two notes was the color of ink used for the numeral 1 crossed by the word DOLLAR, Treasury seal, and serial numbers along with the wording of the obligations. These dollar bills were the first and only large-size notes with a standardized design for different types of notes of the same denomination; this same concept would later be used on small-size notes.

Small size notes[edit]

The first small-size $1 Silver Certificate.
Common reverse of $1 Silver Certificates (Series of 1928-1934) and $1 United States Notes (Series of 1928), commonly referred to as "Funnybacks"
The first small-size $1 United States Banknote printed.

(6.14 length × 2.61 width× 0.0043 in thickness = 156 × 66.3 × 0.11 mm)

In 1928, all currency was changed to the size which is familiar today. The first one-dollar bills were issued as silver certificates under Series of 1928. The Treasury seal and serial numbers were dark blue. The obverse was nearly identical to the Series of 1923 $1 silver certificate, but the Treasury seal featured spikes around it and a large gray ONE replaced the blue "1 DOLLAR." The reverse, too, had the same border design as the Series of 1923 $1 bill, but the center featured a large ornate ONE superimposed by ONE DOLLAR. These are commonly known as "Funnybacks" due to the rather odd-looking "ONE" on the reverse. These $1 silver certificates were issued until 1934.

In 1933, Series of 1928 $1 United States Notes were issued to supplement the supply of $1 Silver Certificates. Its Treasury seal and serial numbers were red and there was different wording on the obverse of the note. However, a month after their production, it was realized that there would be no real need for these notes and production was stopped. A small number of these $1 bills entered circulation and the rest were kept in Treasury vaults until 1949 when they were issued in Puerto Rico.[19]

In 1934, the design of the $1 silver certificate was changed. This occurred with that year's passage of the Silver Purchase Act, which led to a large increase in dollar bills backed by that metal.[20] Under Washington's portrait, ONE SILVER DOLLAR was changed to ONE DOLLAR. The Treasury seal was moved to the right and superimposed over ONE, and a blue numeral 1 was added to the left. The reverse remained the same.

A year later, in 1935, the design of the one-dollar bill was changed again. On the obverse, the blue numeral 1 was changed to gray and made smaller, the gray ONE to the right was removed, the Treasury seal was made smaller and superimposed by WASHINGTON D.C., and a stylized ONE DOLLAR was added over the treasury seal. The reverse was also changed to its current design, except for the absence of IN GOD WE TRUST.

Special issue $1 Silver Certificate for Allied troops in North Africa

World War II brought about special issues of one-dollar bills in 1942. Special $1 Silver Certificates were issued for Hawaii in case of a Japanese invasion. HAWAII was printed vertically on the left and right side of the obverse and also horizontally across the reverse. The seal and serial numbers were changed to brown. Special Silver Certificates were also issued as payment for Allied troops in North Africa about to begin their assault into Europe. The only difference on these one-dollar bills was a yellow instead of blue seal. Both of these types of notes could be declared worthless if they fell into enemy hands.

The next change came in 1957 when the $1 bill became the first piece of paper U.S. currency to bear the motto IN GOD WE TRUST; it was added over the word ONE on the reverse. Initially the BEP began printing the motto on notes printed with the new 32 note press, but soon Series of 1935G bills printed on an 18 note press featured the motto.

The final production of $1 Silver Certificates occurred in late 1963. In 1964, the redemption of Silver Certificates for silver coin ended and in 1968 the redemption of Silver Certificates for silver bullion ended.

Production of one-dollar Federal Reserve Notes was undertaken in late 1963 to replace the soon-to-be obsolete $1 Silver Certificate. The design on the reverse remained the same, but the border design on the obverse underwent considerable modification, as the mostly abstract filigrees were replaced with designs that were mostly botanical in nature. In addition, the word "one," which appeared eight times around the border in small type, was eliminated. The serial numbers and treasury seal were printed in green ink. This was the first time the one-dollar bill was printed as a Federal Reserve Note.

The first change since then came in 1969, when the $1 was among all denominations of Federal Reserve Notes to feature the new Treasury seal, with English wording instead of Latin.[21]

The $1 bill became the first denomination printed at the new Western Currency Facility in February 1991, when a shipment of 3.2 million star notes from the Dallas FRB was produced.[22]

Though bill denominations of $5 and higher have been redesigned twice since 1995 as part of ongoing anti-counterfeiting efforts, there are currently no plans to redesign the $1 or $2 bills.

Experimental issues[edit]

Main article: Web notes

Since 1933, the one-dollar bill has been the exclusive experimental denomination among circulating US currency (except for the Natick experiment in 1981, see below). The first experiment was conducted in January and February of that year to assess the effects of using different ratios of cotton to linen in the make-up of the bills. Series 1928A and 1928B $1 silver certificates with serial number block letters X-B and Y-B were used as the experimental group; the Z-B block was used as the control group. The results of the experiment were inconclusive.

In 1937, another test was conducted, similar in style to the 1933 experiment. This test used Series 1935 one-dollar bills. The particular notes used in this experiment can be identified by their serial numbers. Notes ranging from A00000001B to A06180000B and B00000001B–B03300000B were the experimental group and notes ranging from C00000001B to C03300000B were part of the control group. No conclusive results were found.

A better known test was done in 1942 during World War II to test alternative types of paper. This was a precautionary measure in case the current type of paper supply could not be maintained. Series 1935A notes made of the special paper and were printed with a red "S" to the right of the treasury seal, while notes of the control group were printed with a red R. Because they have some collector value, fake red S's and R's have been applied to regular Series 1935A notes to try to pass them at a higher value; checking a note's serial numbers can prevent this. Serial numbers of the R group range from S70884001C to S72068000C and serial numbers of the S group range from S73884001C to S75068000C.

Sometime in the early to mid-1960s, the BEP experimented with a new firm, the Gilbert Paper Company, to see if they could duplicate the usual paper production.[23] The BEP selected a series of notes printed by the Philadelphia FRB as the test subjects. Serial numbers for this group range from C60800001A to C61440000A.

In August 1981, a similar experiment occurred during production of Series 1977A, when the BEP printed a few print runs on Natick paper. They included a regular run and a star note run from the Richmond FRB, with serial numbers ranging from E76800001H through E80640000H and E07052001* through E07680000* (note that many sources incorrectly identify the star range as Philadelphia instead of Richmond). One print run of $10 star notes, also from Richmond, was included in this paper test, making it so far the only experimental printing not exclusive to the $1.

One-dollar bills were again the subject of experimentation in May 1992, when the BEP began to test a web-fedIntaglio printing press. Because of a need for greater quantities of $1 FRNs, the BEP sent out REQUEST FOR PROPOSALS (RFP) (year 1985) NO. BEP-85-73 to procure a web-fed intaglio printing press to dramatically increase the production of currency notes within the confines of their current (1985) 14th & C street facility. Instead of printing one side of a square sheet of 32 notes at a time, the web-fed press used 96 engraved images or plate-cylinder to print the back of the note, then another 96 image engraved plate-cylinder to print the front of the note. Both sides of notes were printed from a continuous roll of paper. The Alexander-Hamilton intaglio Web press printed both sides of intaglio at the same time. The web-press was designed as a full-blown production press as opposed to an experimental press. The notes were issued in Series 1988A, 1993, and 1995. Because of mechanical problems and operator error, as well as the sometimes poor quality of the notes, production was ended in July 1996. Web notes can be identified by the back plate number next to IN GOD WE TRUST and the removal of face check letters and quadrant numbers.[24]

Series dates[edit]

Small size[edit]

Type Series TreasurerSecretarySeal
Legal Tender Note1928 WoodsWoodinRed
Silver Certificate1928 TateMellonBlue
Silver Certificate 1928A WoodsMellonBlue
Silver Certificate 1928B WoodsMillsBlue
Silver Certificate 1928C WoodsWoodinBlue
Silver Certificate 1928D JulianWoodinBlue
Silver Certificate 1928E JulianMorgenthauBlue
Silver Certificate 1934 JulianMorgenthauBlue
Silver Certificate 1935 JulianMorgenthauBlue
Silver Certificate 1935A JulianMorgenthauBlue
Silver Certificate 1935A Hawaii JulianMorgenthauBrown
Silver Certificate 1935A North Africa JulianMorgenthauYellow
Silver Certificate 1935B JulianVinsonBlue
Silver Certificate 1935C JulianSnyderBlue
Silver Certificate 1935D ClarkSnyderBlue
Silver Certificate 1935E PriestHumphreyBlue
Silver Certificate 1935F PriestAndersonBlue
Silver Certificate 1935G SmithDillonBlue
Silver Certificate 1935G Motto SmithDillonBlue
Silver Certificate 1935H GranahanDillonBlue
Silver Certificate 1957 PriestAndersonBlue
Silver Certificate 1957A SmithDillonBlue
Silver Certificate 1957B GranahanDillonBlue
Federal Reserve Note1963 GranahanDillonGreen
Federal Reserve Note 1963A GranahanFowlerGreen
Federal Reserve Note 1963B GranahanBarrGreen
Federal Reserve Note 1969 ElstonKennedyGreen
Federal Reserve Note 1969A KabisKennedyGreen
Federal Reserve Note 1969B KabisConnallyGreen
Federal Reserve Note 1969C BañuelosConnallyGreen
Federal Reserve Note 1969D BañuelosShultzGreen
Federal Reserve Note 1974 NeffSimonGreen
Federal Reserve Note 1977 MortonBlumenthalGreen
Federal Reserve Note 1977A MortonMillerGreen
Federal Reserve Note 1981 BuchananReganGreen
Federal Reserve Note 1981A OrtegaReganGreen
Federal Reserve Note 1985 OrtegaBakerGreen
Federal Reserve Note 1988 OrtegaBradyGreen
Federal Reserve Note 1988A VillalpandoBradyGreen
Federal Reserve Note 1993 WithrowBentsenGreen
Federal Reserve Note 1995 WithrowRubinGreen
Federal Reserve Note 1999 WithrowSummersGreen
Federal Reserve Note 2001 MarinO'NeillGreen
Federal Reserve Note 2003 MarinSnowGreen
Federal Reserve Note 2003A CabralSnowGreen
Federal Reserve Note 2006 CabralPaulsonGreen
Federal Reserve Note 2009 RiosGeithnerGreen
Federal Reserve Note 2013 RiosLewGreen
Federal Reserve Note 2017 CarranzaMnuchinGreen
Federal Reserve Note 2017A CarranzaMnuchinGreen

Obverse of current $1 bill[edit]

Comparison between Gilbert Stuart's 1796 Athenaeum Portraitand the image on the obverse of the bill. The image from the dollar bill above shows the subject flipped horizontally for ease of comparison.

The portrait of George Washington is displayed in the center of the obverse of the one-dollar bill, as it has been since the 1869 design. The oval containing George Washington is propped up by bunches of bay laurel leaves.[citation needed]

To the left of George Washington is the Federal Reserve District seal. The name of the Federal Reserve Bank that issued the note encircles a capital letter (A–L), identifying it among the twelve Federal Reserve Banks. The sequential number of the bank (1: A, 2: B, etc.) is also displayed in the four corners of the open space on the bill. Until the redesign of the higher denominations of currency beginning in 1996, this seal was found on all denominations of Federal Reserve notes. Since then it is only present on the $1 and $2 notes, with the higher denominations only displaying a universal Federal Reserve System seal, and the bank letter and number beneath the upper left serial number.

To the right of George Washington is the Treasury Department seal. The scales represent justice. The chevron with thirteen stars represents the original thirteen colonies. The key below the chevron represents authority and trust; 1789 is the year that the Department of the Treasury was established. The series 1969 dollar bills were the first to use a simplified Treasury seal, with the wording in English instead of Latin.

Below the FRB seal (to the left of George Washington) is the signature of the Treasurer of the United States, and below the USDT Seal (right side) is the Secretary of the Treasury's signature. To the left of the Secretary's signature is the series date. A new series date, or addition or change of a sequential letter under a date, results from a change in the Secretary of the Treasury, the Treasurer of the United States, and/or a change to the note's appearance such as a new currency design.

On the edges are olive branches entwined around the 1s. A small plate serial number-letter combination is on the lower right, and a small plate position (check) letter is on the upper left corner of the note. If "FW" appears before the lower right plate number it indicates that the bill was produced at the satellite Bureau of Engraving and Printing facility in Fort Worth, Texas. Currency has been printed here since Series 1988A. The absence of "FW" indicates the bill was printed at the main facility in Washington, D.C.

Reverse of current $1 bill[edit]

President Franklin Roosevelt's conditional approval of the one-dollar bill's design in 1935, requiring that the appearance of the sides of the Great Sealbe reversed, and together, captioned.

The reverse of the one-dollar bill has an ornate design that incorporates both sides of the Great Seal of the United States to the left and right of the word ONE. This word appears prominently in the white space at the center of the bill in a capitalized, shadowed, and seriffed typeface. A smaller image of the word "ONE" is superimposed over the numeral "1" in each of the four corners of the bill.

"THE UNITED STATES OF AMERICA" spans the top of the bill, "ONE DOLLAR" is emblazoned along the bottom, and above the central "ONE" are the words "IN GOD WE TRUST," which became the official motto of the United States in 1956 by an Act of Congress. Below the reverse of the Great Seal on the left side of the bill are the words "THE GREAT SEAL," and below the obverse on the right side are the words "OF THE UNITED STATES."

The Great Seal, originally designed in 1782 and added to the dollar bill's design in 1935, is surrounded by an elaborate floral design. The renderings used were the typical official government versions used since the 1880s.

The reverse of the seal on the left features a barren landscape dominated by an unfinished pyramid of 13 steps, topped by the Eye of Providence within a triangle. At the base of the pyramid are engraved the Roman numerals MDCCLXXVI (1776), the date of American independence from Britain. At the top of the seal stands a Latin phrase, "ANNUIT COEPTIS," meaning "He favors our undertaking." At the bottom of the seal is a semicircular banner proclaiming "NOVUS ORDO SECLORUM" meaning "New Order of the Ages" that is a reference to the new American era. To the left of this seal, a string of 13 pearls extends toward the edge of the bill.

The obverse of the seal on the right features a bald eagle, the national bird and symbol of the United States. Above the eagle is a radiant cluster of 13 stars arranged in a six-pointed star. The eagle's breast is covered by a heraldic shield with 13 stripes that resemble those on the American flag. As on the first US flag, the stars and stripes stand for the 13 original states of the union. The eagle holds a ribbon in its beak reading "E PLURIBUS UNUM", a Latin phrase meaning "Out of many [states], one [nation]", a de facto motto of the United States (and the only one until 1956). Both the phrases "E Pluribus Unum" and "Annuit coeptis" contain 13 letters. In its left talons the eagle holds 13 arrows, and in its right talons it holds an olive branch with 13 leaves and 13 olives, representing, respectively, the powers of war and peace. To the right of this seal, a string of 13 pearls extends toward the edge of the bill. A plate position (check) number is normally found to the left of the eagle.

Collecting Federal Reserve dollar bills[edit]

Except for significant errors, and series 1988A web notes printed in small batches for some of the Federal Reserve districts (web notes from other series are more common), green seal dollars are of little collector value. However, two notes have generated public interest, although neither is scarce.

In 1963 dollar bills were produced for the Eleventh Federal Reserve District, headquartered in Dallas. Since the FRD jurisdictions are sequentially numbered, notes received the corresponding letter "K", for the 11th letter of the alphabet. Some people noticed that the 1963 Dallas note, with the number "11" and a "K" surrounded by a black seal, appeared about the time President John F. Kennedy was shot in Dallas in November 1963. The bill was not a commemorative issue and there was no connection between it and the shooting.[25]

In 1968–69 Joseph W. Barr was Secretary of the Treasury for only 31 days and his signature appeared solely on the 1963B dollar bill. Some collectors thought that his brief tenure might make these notes valuable, but use of their plates continued for some time after his term in office and 458,880,000 were printed. Thus they are very common.[26]

Dollar Bills with interesting serial numbers can also be collected. One example of this is radar or “palindrome“ notes, where the numbers in the serial number are the same read from left to right or right to left. Very low serial numbers, or a long block of the same or repeating digits may also be of interest to specialists. Another example is replacement notes, which have a star to the right of the serial number. The star designates that there was a printing error on one or more of the bills, and it has been replaced by one from a run specifically printed and numbered to be replacements.[27] Star notes may have some additional value depending on their condition, their year series or if they have an unusual serial number sequence. To determine the rarity of modern star notes, production tables are maintained.[28]

Prosecution for the possession of a $1 bill[edit]

In Turkey the possession of a one-dollar bill can lead to a prosecution and sentence for terror related charges because it is seen as evidence for being a member of the Gülen Movement founded by Fethullah Gülen, which is seen as a terror organization in Turkey. Turkish authorities believe that Gülen used to present a one dollar bill to his followers and that they showed it to one another in order to make them recognizable.[29][30][31]

Redesign or replacement of the dollar bill[edit]

GAOestimated 30-year present-value cost of replacing $1 notes with $1 coins

See also: Dollar coin (United States) § Popularity

In modern times, the one dollar bill is used much more than the dollar coin, despite the U.S. Government's repeated efforts to promote the latter.[32] There are organizations specifically aimed at either preventing (Save the Greenback)[33] or advocating (Coin Coalition)[34][35] the complete elimination of the one-dollar bill in favor of the dollar coin.

On November 29, 2012, a House subcommittee met to consider replacing the dollar bill. This action took place after the seventh Government Accountability Office report on the subject. The latest report claimed that switching to dollar coins would save $4.4 billion over thirty years. However, according to polls, few Americans want to give up dollar bills.[36]

In response to various requests to redesign the $1 bill to include (among others) the Preamble, Bill of Rights, and list of Articles of the United States Constitution,[37] recent budgets passed by Congress have included provisions to prevent the Treasury Department from spending any of its funds to redesign the $1 bill, since the potential cost impact of this change on the vending machine industry would greatly exceed its benefits.[38]

See also[edit]

References[edit]

  1. ^"Currency Facts". uscurrency.gov. U.S. Currency Education Program. Retrieved July 15, 2020.
  2. ^"How Money is Made - Paper and Ink". Bureau of Engraving and Printing. U.S. Dept. of the Treasury. Retrieved May 17, 2020.
  3. ^69 Stat. 290
  4. ^"How long is the life span of U.S. paper money?". U.S. Federal Reserve. Retrieved May 17, 2020.
  5. ^"1$ Note". Bureau of Engraving and Printing. Archived from the original on February 16, 2013.
  6. ^"Currency in Circulation: Volume". The Federal Reserve. August 1, 2020.
  7. ^"Salmon P. Chase". Tulane University. Archived from the original on December 31, 2006.
  8. ^"Series of 1928 One Dollar Red Seal United States Note – Values and Pricing". OldCurrencyValues.com. Retrieved January 14, 2018.
  9. ^"Silver Purchase Act of 1934 (United States)". Encyclopedia of Money. Retrieved January 14, 2018.
  10. ^"The History of the One Dollar Bill". Onedollarbill.org.
  11. ^"Series 1988A $1 By Groups". USPaperMoney.info.
  12. ^"The Gilbert Paper Co $1 Federal Reserve Notes, Series 1963". The E-Sylum. The Numismatic Bibliomania Society. 15 (22). May 27, 2012. Retrieved January 14, 2018.
  13. ^"Web Notes". USPaperMoney.info. Retrieved May 17, 2020.
  14. ^"Kennedy bills have eerie connection with his assassination". WNDU-TV. November 22, 2013. Retrieved January 14, 2018.
  15. ^Meehan, Brendan (April 11, 2012). "Rare or Not Rare: The 1963-B $1 Dollar Barr Note". USA Paper Money Auction.
  16. ^"Why do some U.S. bills have a star instead of a letter at the end of the serial number?". Howstuffworks.com. Retrieved May 22, 2019.
  17. ^"$1 Star Note Production Tables". My Currency Collection.
  18. ^Wray, Dianna (August 1, 2017). "Over a Single Dollar Bill, a NASA Scientist Remains Trapped in a Turkish Prison". Houston Press. Retrieved March 28, 2019.
  19. ^Bozkurt, Abdullah (February 4, 2019). "Turkey's war on the US one dollar bill to justify persecution of its critics". Nordic Monitor. Retrieved March 28, 2019.
  20. ^Snell, Lindsey (March 25, 2017). "How Did a NASA Scientist Get in Turkish Prison?". The Daily Beast. Retrieved March 28, 2019.
  21. ^Anderson, Gordon T. (April 25, 2005). "Congress tries again for a dollar coin". CNN Money. Retrieved June 26, 2012.
  22. ^"Is U.S. Ready to See the Dollar Bill Pass?". Los Angeles Times. June 12, 1995. p. 4.
  23. ^Barro, Robert J.; Stevenson, Betsey (November 6, 1997). "Do You Want That In Paper, or Metal?". The Wall Street Journal. Archived from the original on December 31, 2004.
  24. ^Lobb, Annelena (April 11, 2002). "Should the penny go?". CNN Money.
  25. ^Straw, Joseph; Lysiak, Matthew; Murray, Rheana (November 30, 2012). "Congress considers getting rid of dollar bills for $1 coins to save money". New York Daily News. Retrieved January 7, 2013.
  26. ^https://www.govinfo.gov/content/pkg/BILLS-105s2053is/html/BILLS-105s2053is.htm
  27. ^"One Is the Loneliest Dollar Bill". National Journal. January 28, 2014.

Bibliography[edit]

  • Friedberg, Arthur L.; Friedberg, Ira S. (2005). The Official Red Book: A Guide Book of United States Paper Money. Introduction and narrative by Q. David Bowers. Atlanta, GA: Whitman Publishing. ISBN .
  • Hudgeons, Marc; Hudgeons, Tom (2006). Blackbook Price Guide to United States Paper Money (38th ed.). New York City: House of Collectibles. ISBN .
  • Krause, Chester L.; Lemke, Robert F. (1998). White, Robert (ed.). Standard Catalog of United States Paper Money (17th ed.). Iola, WI: Krause Publications. ISBN .
  • Schwartz, John; Lindquist, Scott (2011). Bradley, Debbie (ed.). Standard Guide to Small Size U.S. Paper Money : 1928 to date (10th ed.). Iola, WI: Krause Publications. ISBN .

External links[edit]

Источник: https://en.wikipedia.org/wiki/United_States_one-dollar_bill

1 Dollar, Legal Tender Note, United States, 1862

Description (Brief)
One (1) dollar note
United States, 1862
Obverse Image: Portrait of Salmon P. Chase.
Obverse Text: ACT OF JULY 11TH 1862. / THE UNITED STATES WILL PAY THE BEARER ONE DOLLAR AT THE TREASURY IN NEW YORK / WASHINGTON / AUGUST 1ST, 1862 / 452 / SERIES 251 / D / 1 2 3 / 1 / NATIONAL BANK NOTE COMPANY / PATENTED APRIL 23RD 1860 / REGISTER OF THE UNITED STATES / TREASURER OF THE UNITED STATES / THESAUR / AMER / SEPTENT / SIGIL /
Reverse Image: Geometric patterns.
Reverse Text: 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 / ONE / 1
Location
Currently not on view
Object Name
note
date made
1862
maker
Bureau of Engraving and Printing
place made
United States
Associated Place
United States
Physical Description
paper (overall material)
Measurements
overall: 18.1 cm x 19.4 cm x.01 cm; 7 1/8 in x 7 5/8 in x in
ID Number
NU.78.5.082
serial number
452
catalog number
78.5.082
accession number
1978.0941
Credit Line
U. S. Department of the Treasury
See more items in
Work and Industry: National Numismatic Collection
Legal Tender Notes
Data Source
National Museum of American History

Nominate this object for photography.   

Our collection database is a work in progress. We may update this record based on further research and review. Learn more about our approach to sharing our collection online.

If you would like to know how you can use content on this page, see the Smithsonian's Terms of Use. If you need to request an image for publication or other use, please visit Rights and Reproductions.

Источник: https://americanhistory.si.edu/collections/search/object/nmah_1839417

1862 Bank of North America one dollar bill and Confederate states 1000 may 1861

SoldSee similar items$333.00Buy It Nowor Best Offer, 14-Day Returns, eBay Money Back Guarantee

Seller:jeffreploc_0✉️(213)0%, Location:Kingsport, Tennessee, US, Ships to: US, Item:1830169106321862 Bank of North America one dollar bill and Confederate states 1000 may 1861. One Bank North America one dollar 1862 and one confederate 1000 dollars may 28 1861 only alble to find one example to get my value of each and believe that both being rare should make a nice display and investment ! I have had these and some other items my grandmother saved for me and I have to help my mother and hope that it is a good find because I need space for my other 1000 plus items I am ready to release and want experience buyers help and input so everyone can be happy! Best regards! JeffType:Banknotes, Denomination:$1000, Circulated/Uncirculated:Circulated

PicClick Insights - 1862 Bank of North America one dollar bill and Confederate states 1000 may 1861 PicClick Exclusive

  •  Popularity - 2 watching, 1 day on eBay. Good amount watching. 1 sold, 1 available.
  • 2 watching, 1 day on eBay. Good amount watching. 1 sold, 1 available.

  •  Best Price -
  •  Seller - 213+ items sold. 0% negative feedback. Good seller with good positive feedback and good amount of ratings.
  • 213+ items sold. 0% negative feedback. Good seller with good positive feedback and good amount of ratings.

    Recent Feedback

People Also Loved PicClick Exclusive

Источник: https://picclick.com/1862-Bank-of-North-America-one-dollar-bill-183016910632.html

Government During the War

Republicans in Union Congress enacted national reforms. The Confederacy adopted its own constitution and formed its own government.

Learning Objectives

Compare and contrast the Confederate governance and constitution with that of the United States, and discuss bills passed in Congress after the secession of the South

Key Takeaways

Key Points

  • Prior to secession, the South had resisted policies that could hurt the plantation economy.
  • In March 1861, the Confederate Constitution was adopted; this document placed strong emphasis on the rights of individual member states, and explicitly protected the institution of slavery.
  • In February 1862, the permanent Confederate Congress began its first session.
  • In May 1862, the Homestead Act opened up public-domain lands for family farms in the Union.
  • In February 1863, the National Banking Act established a system of national banks in the Union.
  • The Union also sponsored agricultural training programs during this period through the newly established Department of Agriculture and the Morrill Land Grant College Act.
  • In July 1862, the Union Congress promoted the construction of the transcontinental railroad in the United States with the Pacific Railroad Act, in order to open up the western plains and California.

Key Terms

  • National Banking Act: The National Banking Acts of 1863 and 1864 were two U.S. federal banking acts that created the U.S. National Banking System.
  • Homestead Act: One of three U.S. federal laws that gave (at no cost) an applicant ownership of farmland called a “homestead”—typically 160 acres (65 hectares or one-fourth section) of undeveloped federal land west of the Mississippi River.
  • Confederate Congress: The legislative body of the Confederate States of America, which existed between 1861 and 1865 during the American Civil War.

Union Governance

Following the secession of the Southern states, the absence of Southern Democrats in Congress allowed the Republican Congress in Washington to enact legislation that reshaped the nation’s financial, tax, land, and higher-education systems. Prior to secession, the South had resisted policies that would hurt the plantation economy, including tariffs to promote industry and land grants for family farms. With the establishment of the Confederacy, Republicans in Congress enacted sweeping federal changes, including implementation of the Morrill Tariff and passage of the Homestead Act, Pacific Railroad Act, and National Banking Act. The latter established a system of national banks in 1863, and promoted development of a national currency backed by bank holdings of U.S. Treasury securities.

Portrait of Justin Smith Morrill

Justin Smith Morrill: The Morrill Tariff, named for Vermont Representative Justin Smith Morrill, was strongly opposed by the South.

By taxing British imports, the Morrill Tariff provided an additional source of revenue and encouraged the establishment of domestic factories. The Morrill Tariff also impacted immigration, as tens of thousands of Europeans were drawn to America for high-wage factory and craftsman jobs.

The Pacific Railroad Act of 1862 promoted the construction of the transcontinental railroad in the United States. The government provided land grants to railroad companies and issued government bonds for financing. These opportunities encouraged railroad-construction companies to open up the western plains and California. Railroads were also encouraged to sell tracts for family farms at low prices with extended credit.

The 1862 Homestead Act opened up public-domain lands for family farms at no cost. This act was unpopular among Southern slaveholders, who wanted to see more land dedicated to plantations. Agriculture prospered during the war due to the demand from Union troops and Britain, which was heavily reliant on U.S. wheat. The government also sponsored agricultural training programs during this period, through the newly established Department of Agriculture and the Morrill Land Grant College Act.

Confederate Governance

In February 1861, the six states that had seceded at that point formed the Confederate States of America and unanimously elected Jefferson Davis as president and Alexander Stephens as provisional vice president. Davis was elected to serve a six-year term without the possibility of reelection.

The Confederate Constitution was adopted on March 11, 1861. Much of the Confederate Constitution replicated the U.S. Constitution verbatim. However, the Confederate Constitution placed greater emphasis on the rights of individual member states and contained several explicit protections of the institution of slavery.

For the first year of the war, a provisional Confederate Congress functioned as the Confederacy’s legislative branch. The permanent Confederate Congress began its first session on February 18, 1862. This Congress followed the U.S. model of a bicameral legislature: Two senators represented each state, and members of the House of Representatives were apportioned according to free and slave populations within each state. Two Congresses sat in six sessions until March 18, 1865.

The significance of individual votes and the independence of each voter was a unique feature of the Confederate Congress due to the absence of guiding political parties. Congress addressed military concerns such as control of state militias, conscription and exemption, and economic and fiscal policy, and supported the Davis administration in foreign affairs and peace negotiations.

Union Finances

The Union emerged from the Civil War with a healthy economy by funding the war with new taxes, printing money, and issuing government bonds.

Learning Objectives

Describe how the Union financed the war through taxes, printing money, the sale of government bonds, and the creation of a national banking system

Key Takeaways

Key Points

  • The Union relied on patriotism to gain popular support for new taxes on manufactured goods, income, and other goods.
  • Taxes on manufactured goods were an important source of tax revenue.
  • Established in July 1862, the Revenue Act of 1862 was the nation’s first income tax.
  • The Legal Tender Act of 1862 allowed the Union to print paper money to finance the war.
  • Government bonds also were sold directly to citizens for the first time.
  • In 1863, the National Banking Act created a system of national banks that provided a sound currency for industrial expansion.

Key Terms

  • National Banking Act: The National Banking Acts of 1863 and 1864 were two U.S. federal banking acts that created the U.S. National Banking System.
  • Legal Tender Act of 1862: A bill (12 Stat. 345), enacted February 25, 1862, and passed to issue paper money to help finance the Civil War.
  • Revenue Act of 1862: A bill (Ch. 119, 12 Stat. 432) passed by Congress to help fund the American Civil War.

Following the secession of the Southern states, Republicans in Washington sought to finance the war while simultaneously implementing an elaborate program of economic modernization. The Morrill Tariff and the Homestead Act were among the far-reaching changes enacted by Congress in this period to fulfill the Republican vision of an industrial nation.

image

Portrait of Secretary of the Treasury Salmon P. Chase: Chase oversaw the Union’s financial strategy during the Civil War.

The Treasury Department under Secretary Salmon P. Chase showed remarkable ingenuity in financing the war without crippling the economy. Several new taxes imposed during the war relied on wartime patriotism to bolster public approval. The United States required more than three billion dollars to pay for the immense armies and fleets raised to fight the Civil War and more than $400 million in 1862 alone.

The largest tax sum by far came from taxes imposed on manufactured goods. The Morrill Tariff was also an important source of tax revenue. The Union also levied the nation’s first income tax with the Revenue Act of 1862. Annual income of U.S. residents was taxed at a 3 percent rate, while those earning more than $10,000 per year were taxed at a 5 percent rate.

An additional means of financing the war was printing money, a strategy also employed in the Confederacy. The Legal Tender Act of 1862 was enacted in February 1862 to issue paper money to finance the war. As the paper money depreciated, it became the subject of controversy, particularly because debts contracted earlier could be paid in this cheaper currency.

Apart from instituting new taxes and printing money, a third major source of funding was government bonds. For the first time, bonds in small denominations were sold directly to citizens. Among the Union’s most important war measures was the creation of a system of national banks that provided a sound currency for industrial expansion.These new banks were required to purchase government bonds, directly financing the war.

image

The Greenback bill issued by the United States during the Civil War: The Union printed paper money, which was used in lieu of gold and silver, to finance the war.

Using these fundraising tactics, the Union was able to successfully generate funds for the war and emerged from the conflict with a healthy economy.

Confederate Finances

The Southern economy was crippled during the Civil War by a self-imposed cotton embargo, Union blockades, and inflation.

Learning Objectives

Describe how the Confederacy sought to finance the war and gain international recognition through taxes and the cotton embargo

Key Takeaways

Key Points

  • In August 1861, the Confederate Congress introduced a “war-tax,” which proved to be politically unpopular among Southern Democrats and difficult to collect.
  • In 1861, Southern planters introduced a self-imposed embargo on cotton exports in an attempt to starve Europe of cotton and force diplomatic recognition of the Confederacy. Britain responded by importing cotton from other parts of the world.
  • In April 1861, the Union imposed a blockade of Southern ports that remained for the duration of the war, limiting sources of food, medicine, and war supplies.
  • The Confederacy soon turned to issuing bonds and printing money to finance the war.
  • The leniency of Confederate banks during the war encouraged speculation.
  • In 1861, the Confederate dollar was worth 90¢ in Union dollars; by the war’s end, it was worth.017¢.

Key Terms

  • Union Blockade: Also know as the “Blockade of the South”; took place between 1861 and 1865, during the American Civil War, when the Union Navy maintained a strenuous effort along the Atlantic and Gulf Coast of the Confederate States of America to prevent the passage of trade goods, supplies, and arms to and from the Confederacy.
  • Confederate States of America Dollar: Currency first issued into circulation in April 1861 when the Confederacy was only two-months old on the eve of the outbreak of the Civil War.
  • war-tax: A direct charge levied on the population of a state utilized for some period of time to finance a war or conflict.

Early in the war, the Confederate economy relied mostly on tariffs on imports and taxes on exports. The Confederate economy also relied on voluntary donations of coins and bullion from private individuals in support of the Confederate cause; these were initially quite substantial, but became scarce by the end of 1861. A small “war-tax” was enacted in August 1861, but proved to be politically unpopular among Southern Democrats and difficult to collect.

The Confederate government desperately sought to secure international recognition of the Confederacy as a nation and gain European allies. The Confederate government hoped to force diplomatic recognition of the Confederacy by starving Europe of cotton. In 1861, Southern planters agreed to a self-imposed embargo on cotton exports. Cotton was stored in warehouses and used to prop up Confederate war bonds sold in Europe. Throughout the war, the South clung to the notion that the Confederacy would be able to capitalize on its cotton monopoly.

This embargo was effective at first, creating an immediate source of income from the valuable cotton-backed bonds, shutting down hundreds of textile factories, and putting thousands of people in Europe out of work. However, the embargo became a loss for the Confederacy when the British did not cave in to its demands, choosing instead to import cotton from Egypt and India in 1862.

The self-inflicted damage resulting from the embargo was exacerbated by the blockade of Southern ports by the Union Navy, beginning in 1861. The Union blockade greatly diminished the revenue from taxes on international trade, and Southern cotton exports fell by 95 percent. This powerful weapon eventually ruined the Southern economy. Ordinary freighters had no reasonable hope of evading the blockade and soon stopped calling at Southern ports. The blockade largely reduced imports of food, medicine, war materials, manufactured goods, and luxury items, resulting in severe shortages and inflation.

An image of the SS Banshee

The blockade runner USS Banshee (1862), by R.G. Skerrett, 1899: The USS Banshee was among the blockade runners that attempted to evade the Union blockade of the Confederate coast.

The illustrated map shows a giant snake, "Scott's Great Snake," wrapped around the Confederate states. Its tail is coiled around a flagpole with a U.S. flag and a liberty cap at Washington, D.C. Its body extends around Florida and up through Texas, Indian Territory, Kansas, and around to Missouri. It's head, which rests above southern Missouri, is decorated with the stars and stripes of the American flag. It bears its fangs, driving "Jackson & Co." into Arkansas.

Cartoon map illustrating General Winfield Scott’s plan to crush the Confederacy economically, 1861: This snake represents the Union blockade of Southern ports.

Hoping to avoid an unpopular tax increase, the Confederacy soon turned to issuing debt and printing Confederate money to finance the war. Many banks suspended specie payments at the end of 1860, and thereafter irresponsibly increased banknote issue and loans. These choices added to the general redundancy of the currency and stimulated speculation. During the course of the war, Confederate States of America dollars severely depreciated and eventually became worthless. The resulting inflation remained a problem for the Southern states throughout the remainder of the war, collapsing the South’s financial infrastructure and forcing a move to a barter economy for civilians.

By 1863, the Southern economy, which was completely tied to the price of cotton, had crashed, crippling the South’s ability to secure any kind of European alliance or purchase badly needed war supplies. With little revenue from taxation, and with the disastrous effects of the wholesale issue of paper money before it, the Confederate government made every effort to borrow money by issuing bonds. These bonds, however, depreciated rapidly as the economy collapsed. At the beginning of the war, the Confederate dollar was valued at 90¢ in Union dollars. By the war’s end, its price had dropped to only.017¢.

image

Five-dollar and 100-dollar Confederate States of America banknotes: Confederate currency, widely distributed during the war, ultimately lost all value.

Union Politics

Republicans were split between those who sought peace within the Confederacy and those who wanted emancipation for slaves.

Learning Objectives

Explain the policies enacted by the Republican Party during the Civil War

Key Takeaways

Key Points

  • Prior to the war, Abraham Lincoln attempted to abstain from the debate over slavery, arguing that he had no constitutional authority to intervene.
  • Copperhead Democrats opposed emancipation and sought an immediate peace settlement with the Confederacy.
  • In August 1861, the First Confiscation Act authorized the confiscation of any Confederate property, including slaves, by Union forces.
  • In July 1862, Congress passed the Second Confiscation Act, declaring that any Confederate official who did not surrender within 60 days of the act’s passage would have his slaves freed.
  • On September 22, 1862, Lincoln issued a preliminary proclamation that he would order the emancipation of all slaves in any state of the Confederacy that did not return to Union control by January 1, 1863.
  • The Emancipation Proclamation took effect, affirming the freedom of slaves in the 10 states that were then in rebellion.

Key Terms

  • Radical Republicans: A loose faction of American politicians within the Republican Party from about 1854 (before the American Civil War) until the end of Reconstruction in 1877. Radicals strongly opposed slavery during the war and after the war distrusted ex-Confederates, demanding harsh policies for the former rebels, and emphasizing civil rights and voting rights for freedmen (recently freed slaves).
  • Copperhead Democrats: A vocal group of Democrats located in the Northern United States of the Union who opposed the American Civil War, wanting an immediate peace settlement with the Confederates.
Portrait of Thaddeus Stevens

Thaddeus Stevens, ca. 1863: Stevens was a leader among the Radical Republicans, supporters of emancipation.

Prior to the Civil War, Abraham Lincoln attempted to abstain from the debate over slavery, arguing that he had no constitutional authority to intervene. As the war progressed, emancipation remained a risky political act that had little public support. Lincoln faced strong opposition from Copperhead Democrats, who demanded an immediate peace settlement with the Confederacy. Many recent immigrants in the North also opposed emancipation, viewing freed slaves as competition for scarce jobs. Within the Republican Party, however, the Radical Republicans, led by House Republican leader Thaddeus Stevens, put strong pressure on Lincoln to end slavery quickly. One of the Radicals Republicans’ most persuasive arguments was that the rebel economy would be destroyed were it to lose slave labor.

Congress passed several laws between 1861 and 1863 that aided the growing movement toward emancipation. Despite his concerns that premature attempts at emancipation would weaken his support and entail the loss of crucial border states, Lincoln signed these acts into law. The first of these laws to be implemented was the First Confiscation Act of August 1861, which authorized the confiscation of any Confederate property, including slaves, by Union forces. In March 1862, Congress approved a Law Enacting an Additional Article of War, which forbade Union Army officers from returning fugitive slaves to their owners. The following month, Congress declared that the federal government would compensate slave owners who freed their slaves. Moderate Republicans accepted Lincoln’s plan for gradual, compensated emancipation, which was put into effect in the District of Columbia.

In June 1862, Congress passed a Law Enacting Emancipation in the Federal Territories, and in July, passed the Second Confiscation Act, which contained provisions intended to liberate slaves held by rebels. The latter act also declared that any Confederate official, military or civilian, who did not surrender within 60 days of the act’s passage would have his slaves freed.

In order to increase public support for emancipation, Lincoln strategically chose to associate the Emancipation Proclamation with the Union victory at the Battle of Antietam in September 1862. On September 22 of that year, Lincoln issued a preliminary proclamation that he would order the emancipation of all slaves within all Confederate states that did not return to Union control by January 1, 1863. When none of the states returned to the Union by that date, Lincoln honored his proclamation, and the order immediately took effect.

The title page of the pamphlet reads, "Abraham Africanus I. His secret life, as revealed under the mesmeric influence. Mysteries of the White House. J.F. Fleeks, Publisher. No. 26 Ann Street, NY." The page includes an dark-skinned portrait of Abraham Lincoln, wearing a crown.

Copperhead pamphlet from 1864 mocking President Abraham Lincoln: The Copperhead Democrats strongly opposed emancipation and pressured Lincoln to make peace with the Confederacy.

Predictably, the Confederates were initially outraged by the Emancipation Proclamation and used it as further justification for their rebellion. The Proclamation was also immediately denounced by Copperhead Democrats, a more extreme wing of the Northern Democratic faction of the Democratic Party that opposed the war and hoped to restore the Union peacefully via federal acceptance of the institution of slavery. Additionally, these Democrats viewed the Proclamation as an unconstitutional abuse of Presidential power. Controversy surrounding the Emancipation Proclamation, as well as military defeats suffered by the Union, caused many moderate Democrats to abandon Lincoln and join the more extreme Copperheads in the 1862 elections. Democrats gained 28 seats in the House in the 1862 election cycle, as well as the governorship of New York.

Some Copperheads advocated violent resistance to the wartime effort, which greatly increased tensions between pro-war and anti-war factions. Though no organized attacks ever materialized, sensationalist politics did give rise to the Charleston Riot in Illinois during March 1864. Many Copperhead leaders were arrested and held in military prisons without trial, sometimes for months at a time. For example, Ambrose Burnside in 1863 issued General Order Number 38 in Ohio, which made it an offense to criticize the war in any way. The order was then used to arrest a congressman from Ohio, Clement Vallandigham, when he criticized the order itself. Additionally, a number of Copperheads were accused of treason by Republicans in a series of trials that took place during 1864.

A faction within the Republican Party, called the “Radical Republicans,” also opposed the war. Unlike the Copperheads, Radical Republicans were strongly against the institution of slavery and pushed for uncompensated abolition of the slaves as opposed to Lincoln’s plan to pay individuals who freed their slaves and were also loyal to the Union. For a brief time in 1864, Radical Republicans formed a new political party called the “Radical Democracy Party” with John Frémont as their presidential candidate, but the party dissolved when Frémont withdrew his candidacy. Radical Republicans were generally critical of President Lincoln, but he still appointed members of all political factions to his cabinet.

Confederate Politics

Confederate politics were dominated by the tension between states’ rights and the military needs of the Confederacy.

Learning Objectives

Examine the tensions between Confederate state leaders and President Jefferson Davis

Key Takeaways

Key Points

  • States’ rights continually caused tension between state leaders and President Jefferson Davis.
  • Powerful state governors used states’-rights arguments to withhold militia units from national service.
  • North Carolina Governor Zebulon Vance frequently opposed Davis over the issue of states’ rights.
  • Conscription, put into law by the Confederate Congress in April 1862, was a particularly unpopular practice within the Confederacy.
  • Davis also feuded bitterly with Vice President Alexander Stephens.
  • The lack of a two-party political system prevented the emergence of alternatives to the way in which war was conducted by the Davis administration.

Key Terms

  • Zebulon B. Vance: (May 13, 1830–April 14, 1894) Confederate military officer in the American Civil War, the 37th and 43rd Governor of North Carolina, and U.S. Senator. A prodigious writer, Vance became one of the most influential Southern leaders of the Civil War and postbellum periods.
  • Alexander Stephens: (February 11, 1812–March 4, 1883) An American politician from Georgia. He was Vice President of the Confederate States of America during the American Civil War. He also served as a U.S. Representative from Georgia (both before the Civil War and after Reconstruction) and as the 50th Governor of Georgia from 1882 until his death in 1883.
  • conscription: Involuntary labor, especially military service, demanded by some established authority or government.

States’ rights, one of the primary platforms for secession, was an enduring issue in Confederate politics that caused tension between state leaders and President Jefferson Davis.

image

Illustration of Confederate cabinet, Harper’s Weekly, 1861: Front row, left to right: Judah P. Benjamin, Stephen Mallory, Alexander Stephens, Jefferson Davis, John Henninger Reagan, and Robert Toombs. Back row, standing left to right: Christopher Memminger and LeRoy Pope Walker.

Davis clashed with powerful state governors who used states’-rights arguments to hamper mobilization plans. Governors and state legislatures, fearing that Richmond would encroach on the rights of the states, withheld soldiers and funds from the war effort. The first conscription act in North America authorizing Davis to draft soldiers was viewed as the, “essence of military despotism.”

Portrait of Zebulon Baird Vance

Zebulon Baird Vance, ca. 1870s: Zebulon Vance, Governor of North Carolina, challenged the central Confederate government.

Governor Zebulon B. Vance of North Carolina, a powerful advocate of states’ rights, frequently opposed Davis. Vance was particularly opposed to conscription efforts in North Carolina, limiting recruitment success in that state. Vance’s work to mitigate harsh Confederate conscription practices inspired his nickname, “War Governor of the South.” North Carolina was also the only state to observe the right of habeas corpus during the war. Vance insisted that a portion of supplies smuggled into North Carolina by blockade runners be given to the state, despite need elsewhere. Georgia’s governor Joseph Brown also spoke out against attempts by Davis to expand the rights of the Confederate central government.

Davis also feuded bitterly with his vice president. Vice President Alexander Stephens was a strong proponent of states’ rights, placing this principle above military considerations. Throughout the war, Stephens denounced many of the President’s policies, including conscription, suspension of the writ of habeas corpus, impressment, various financial and taxation policies, and Davis’ military strategy.

Despite political differences, no political parties were formed within the Confederacy. Without a two-party system, electoral protests tended to be narrowly state-based. The 1863 midterm elections became mere expressions of futile and frustrated dissatisfaction. The lack of a functioning two-party system prevented the formulation of any effective alternatives to the conduct of the war by the Davis administration.

Источник: https://courses.lumenlearning.com/boundless-ushistory/chapter/government-during-the-war/

Minnesota Treaties

Treaty of Traverse des Sioux, painted for Minnesota State Capitol by Francis David Millet, 1905"Suppose your Great Father wanted your lands and did not want a treaty for your good; he could come with 100,000 men and drive you off to the Rocky Mountains."

Luke Lea, U.S. negotiator, Treaty of Mendota, 1851

1805: In 1805 the Dakota ceded 100,000 acres of land at the confluence of the Mississippi and Minnesota rivers. U.S. Army Lt. Zebulon Pike negotiated the agreement so the U.S. government could build a military fort there. Of the seven Indian leaders present at the negotiations, only two signed the treaty.

Pike valued the land at $200,000, but no specific dollar amount was written into the treaty. At the signing, he gave the Indian leaders gifts whose total value was $200. The U.S. Senate approved the treaty, agreeing to pay only $2,000 for the land.

Generally, the Indians who signed treaties did not read English. They had to rely on interpreters who were paid by the U.S. government. It is uncertain whether they were aware of the exact terms of the treaties they signed.

Minneapolis and St. Paul are located on land ceded in 1805.

1825: The U.S. government arranged the Prairie du Chien treaty between the Dakota and Ojibwe, as well as the Menominee, Ho-Chunk, Sac and Fox, Iowa, Potawatomi, and Ottawa tribes. The treaty set the boundaries of tribal land. After that, it was simpler for the government to negotiate with the Indians for the purchase of their lands.

1837: At Fort Snelling in 1837, the Ojibwe ceded their land north of the 1805 area to the U.S. government in exchange for cash, the payment of claims made by traders, and annual payments of cash and goods, or annuities.

Later that year, a group of Dakota leaders was brought to Washington, D.C., having been told that they would be negotiating the settlement of their southern boundary. Instead, they were pressured into ceding all their land east of the Mississippi. The land was valued at $1,600,000, but the U.S. government agreed to pay far less. The Dakota were promised the interest on $300,000, invested at 5 percent. This amounted to $15,000 per year. The government kept control over one-third of this money, reserving (but not allocating) it for education. Another $200,000 was paid to friends and relatives of the tribe and to settle debts, and $16,000 was given to the Dakota leaders as an incentive to sign the treaty. Each year for 20 years, $23,750 was allocated for annuity payments, food, education, equipment, supplies, and government services.

1847: In 1847 the Ojibwe ceded land for Ho-Chunk and Menominee reservations. This land is west of the 1837 sale. The Ojibwe received $17,000 in cash for the land and the promise of $1,000 annually for the following 46 years. The Ho-Chunk and Menominee reservations were never established.

1851: Minnesota became a territory in 1849. White settlers were eager to establish homesteads on the fertile frontier. Pressured by traders and threatened with military force, the Dakota were forced to cede nearly all their land in Minnesota and eastern Dakota in the 1851 treaties of Traverse des Sioux and Mendota. At Traverse des Sioux, the Sisseton and Wahpeton bands of the Dakota ceded 21 million acres for $1,665,000, or about 7.5 cents an acre. Of that amount, $275,000 was set aside to pay debts claimed by traders and to relocate the Dakota. Another $30,000 was allocated to establish schools and to prepare the new reservation for the Dakota.

The U.S. government kept more than 80 percent of the money ($1,360,000), with only the interest on the amount--at 5 percent for 50 years--paid to the Dakota. The terms of the Mendota treaty with the Mdewakanton and Wahpekute bands of the Dakota were similar, except that those payments were even smaller. The treaties of 1851 also called for setting up reservations on both the north and south sides of the Minnesota River. But the U.S. Senate changed the treaties by eliminating the reservations and leaving the Dakota with no place to live. Congress required the Dakota to approve this change before appropriating desperately needed cash and goods. President Millard Fillmore agreed that the Dakota could live on the land previously set aside for reservations, but only until it was needed for white settlement.

1854: The arrowhead region of northeastern Minnesota was purchased from the Ojibwe. Three small reservations were located on parts of this land.

1855: The Ho-Chunk ceded their land in Minnesota, except for one small reservation in the southeastern corner of the Territory. The Ojibwe ceded land in north-central Minnesota. Nine reservations were created on this traditional Ojibwe land.

1858: A month after Minnesota became a state, a group of Dakota traveled to Washington, D.C., to discuss their reservation. The Dakota were pressured to cede the lands on the north side of the Minnesota River. They received 30 cents per acre, estimated to be only about 5 percent of the land's value. When the funds were finally distributed in 1860, most of the $266,880 promised went to pay debts claimed by traders.

By 1858 the Dakota had only a small strip of land in Minnesota. Without access to the land upon which they had hunted for generations, they had to rely on treaty payments for their survival. The inadequate money and goods often arrived late. By summer 1862, most of the Dakota were starving--one of the causes of the U.S.-Dakota War, which lasted six weeks. Nearly 400 Dakota men were tried by a military commission, and 303 were sentenced to death. President Lincoln pardoned many, but 38 Dakota men were hanged in Mankato. The remaining Dakota were sent to prison in Iowa or to reservations at Crow Creek in what is now South Dakota, and at Santee in Nebraska Territory.

In 1863 the Dakota were forced to give up all their remaining land in Minnesota, and the U.S. government canceled all treaties made with them. The Ojibwe reluctantly ceded most of their remaining land in northwestern Minnesota in treaties of 1863, 1864, and 1867. In 1871 Congress ended the practice of making treaties with Indian nations. However, past treaties remained in place.

Источник: https://www.usdakotawar.org/history/treaties/minnesota-treaties

: Bank of north america 1862 one dollar

CAPTAIN AMERICA THE FIRST AVENGER MEGA DOWNLOAD
CHASE DISNEY REWARDS VISA CREDIT CARD REVIEW
Are mushrooms really good for you
Bank of north america 1862 one dollar

Thematic video

FIRST $2 BILL EVER MADE FROM 1862 - Rare and Old United States Paper Money (Rare U.S. Banknote)

1862 Bank of North America one dollar bill and Confederate states 1000 may 1861

SoldSee similar items$333.00Buy It Nowor Best Offer, 14-Day Returns, eBay Money Back Guarantee

Seller:jeffreploc_0✉️(213)0%, Location:Kingsport, Tennessee, US, Ships to: US, Item:1830169106321862 Bank of North America one dollar bill and Confederate states 1000 may 1861. One Bank North America one dollar 1862 and one confederate 1000 dollars may 28 1861 only alble to find one example to get my value of each and believe that both being rare should make a nice display and investment ! I have had these and some other items my grandmother saved for me and I have to help my mother and hope that it is a good find because I need space for my other 1000 plus items I am ready to release and want experience buyers help and input so everyone can be happy! Best regards! JeffType:Banknotes, Denomination:$1000, Circulated/Uncirculated:Circulated

PicClick Insights - 1862 Bank of North America one dollar bill and Confederate states 1000 may 1861 PicClick Exclusive

  •  Popularity - 2 watching, 1 day on eBay. Good amount watching. 1 sold, 1 available.
  • 2 watching, 1 day on eBay. Good amount watching. 1 sold, 1 available.

  •  Best Price -
  •  Seller - 213+ items sold. 0% negative feedback. Good seller with good positive feedback and good amount of ratings.
  • 213+ items sold. 0% negative feedback. Good seller with good positive feedback and good amount of ratings.

    Recent Feedback

People Also Loved PicClick Exclusive

Источник: https://picclick.com/1862-Bank-of-North-America-one-dollar-bill-183016910632.html

Government During the War

Republicans in Union Congress enacted national reforms. The Confederacy adopted its own constitution and formed its own government.

Learning Objectives

Compare and contrast the Confederate governance and constitution with that of the United States, and discuss bills passed in Congress after the secession of the South

Key Takeaways

Key Points

  • Prior to secession, the South had resisted policies that could hurt the plantation economy.
  • In March 1861, the Confederate Constitution was adopted; this document placed strong emphasis on the rights of individual member states, and explicitly protected the institution of slavery.
  • In February 1862, the permanent Confederate Congress began its first session.
  • In May 1862, the Homestead Act opened up public-domain lands for family farms in the Union.
  • In February 1863, the National Banking Act established a system of national banks in the Union.
  • The Union also sponsored agricultural training programs during this period through the newly established Department of Agriculture and the Morrill Land Grant College Act.
  • In July 1862, the Union Congress promoted the construction of the transcontinental railroad in the United States with the Pacific Railroad Act, in order to open up the western plains and California.

Key Terms

  • National Banking Act: The National Banking Acts of 1863 and 1864 were two U.S. federal banking acts that created the U.S. National Banking System.
  • Homestead Act: One of three U.S. federal laws that gave (at no cost) an applicant ownership of farmland called a “homestead”—typically 160 acres (65 hectares or one-fourth section) of undeveloped federal land west of the Mississippi River.
  • Confederate Congress: The legislative body of the Confederate States of America, which existed between 1861 and 1865 during the American Civil War.

Union Governance

Following the secession of the Southern states, the absence of Southern Democrats in Congress allowed the Republican Congress in Washington to enact legislation that reshaped the nation’s financial, tax, land, and higher-education systems. Prior to secession, the South had resisted policies that would hurt the plantation economy, including tariffs to promote industry and land grants for family farms. With the establishment of the Confederacy, Republicans in Congress enacted sweeping federal changes, including implementation of the Morrill Tariff and passage of the Homestead Act, Pacific Railroad Act, and National Banking Act. The latter established a system of national banks in 1863, and promoted development of a national currency backed by bank holdings of U.S. Treasury securities.

Portrait of Justin Smith Morrill

Justin Smith Morrill: The Morrill Tariff, named for Vermont Representative Justin Smith Morrill, was strongly opposed by the South.

By taxing British imports, the Morrill Tariff provided an additional source of revenue and encouraged the establishment of domestic factories. The Morrill Tariff also impacted immigration, as tens of thousands of Europeans were drawn to America for high-wage factory and craftsman jobs.

The Pacific Railroad Act of 1862 promoted the construction of the transcontinental railroad in the United States. The government provided land grants to railroad companies and issued government bonds for financing. These opportunities encouraged railroad-construction companies to open up the western plains and California. Railroads were also encouraged to sell tracts for family farms at low prices with extended credit.

The 1862 Homestead Act opened up public-domain lands for family farms at no cost. This act was unpopular among Southern slaveholders, who wanted to see more land dedicated to plantations. Agriculture prospered during the war due to the demand from Union troops and Britain, which was heavily reliant on U.S. wheat. The government also sponsored agricultural training programs during this period, through the newly established Department of Agriculture and the Morrill Land Grant College Act.

Confederate Governance

In February 1861, the six states that had seceded at that point formed the Confederate States of America and unanimously elected Jefferson Davis as president and Alexander Stephens as provisional vice president. Davis was elected to serve a six-year term without the possibility of reelection.

The Confederate Constitution was adopted on March 11, 1861. Much of the Confederate Constitution replicated the U.S. Constitution verbatim. However, the Confederate Constitution placed greater emphasis on the rights of individual member states and contained several explicit protections of the institution of slavery.

For the first year of the war, a provisional Confederate Congress functioned as the Confederacy’s legislative branch. The permanent Confederate Congress began its first session on February 18, 1862. This Congress followed the U.S. model of a bicameral legislature: Two senators represented each state, and members of the House of Representatives were apportioned according to free and slave populations within each state. Two Congresses sat in six sessions until March 18, 1865.

The significance of individual votes and the independence of each voter was a unique feature of the Confederate Congress due to the absence of the giving keys inc political parties. Congress addressed military concerns such as control of state militias, conscription and exemption, and economic and fiscal policy, and supported the Davis administration in foreign affairs and peace negotiations.

Union Finances

The Union emerged from the Civil War with a healthy economy by funding the war with new taxes, printing money, and issuing government bonds.

Learning Objectives

Describe how the Union financed the war through taxes, printing money, the sale of government bonds, and the creation of a national banking system

Key Takeaways

Key Points

  • The Union relied on patriotism to gain popular support for new taxes on manufactured goods, income, and other goods.
  • Taxes on manufactured goods were an important source of tax revenue.
  • Established in July 1862, the Revenue Act of 1862 was the nation’s first income tax.
  • The Legal Tender Act of 1862 allowed the Union to print paper money to finance the war.
  • Government bonds also were sold directly to citizens for the first time.
  • In 1863, the National Banking Act created a system of national banks that provided a sound currency for industrial expansion.

Key Terms

  • National Banking Act: The National Banking Acts of 1863 and 1864 were two U.S. federal banking acts that created the U.S. National Banking System.
  • Legal Tender Act of 1862: A bill (12 Stat. 345), enacted February 25, 1862, and passed to issue paper money to help finance the Civil War.
  • Revenue Act of 1862: A bill (Ch. 119, 12 Stat. 432) passed by Congress to help fund the American Civil War.

Following the secession of the Southern states, Republicans in Washington sought to finance the war while simultaneously implementing an elaborate program of economic modernization. The Morrill Tariff and the Homestead Act were among the far-reaching changes enacted by Congress in this period to fulfill the Republican vision of an industrial nation.

image

Portrait of Secretary of the Treasury Salmon P. Chase: Chase oversaw the Union’s financial strategy during the Civil War.

The Treasury Department under Secretary Salmon P. Chase showed remarkable ingenuity in financing the war without crippling the economy. Several new taxes imposed during the war relied on wartime patriotism to bolster public approval. The United States required more than three billion dollars to pay for the immense armies and fleets raised to fight the Civil War and more than $400 million in 1862 alone.

The largest tax sum by far came from taxes imposed on manufactured goods. The Morrill Tariff was also an important source of tax revenue. The Union also levied the nation’s first income tax with the Revenue Act of 1862. Annual income of U.S. residents was taxed at a 3 percent rate, while those earning more than $10,000 per year were taxed at a 5 percent rate.

An additional means of financing the war was printing money, a strategy also employed in the Confederacy. The Legal Tender Act of 1862 was enacted in February 1862 to issue paper money to finance the war. As the paper money depreciated, it became the subject of controversy, particularly because debts contracted earlier could be paid in this cheaper currency.

Apart from instituting new taxes and printing money, a third major source of funding was government bonds. For the first time, bonds in small denominations were sold directly to citizens. Among the Union’s most important war measures was the creation of a system of national banks that provided a sound currency for industrial expansion.These new banks were required to purchase government bonds, directly financing the war.

image

The Greenback bill issued by the United States during the Civil War: The Union printed paper money, which was used in lieu of gold and silver, to finance the war.

Using these fundraising tactics, the Union was able to successfully generate funds for the war and emerged from the conflict with a healthy economy.

Confederate Finances

The Southern economy was crippled during the Civil War by a self-imposed cotton embargo, Union jp morgan chase bank customer service, and inflation.

Learning Objectives

Describe how the Confederacy sought to finance the war and gain international recognition through taxes and the cotton embargo

Key Takeaways

Key Points

  • In August 1861, the Confederate Congress introduced a “war-tax,” which proved to be politically unpopular among Southern Democrats and difficult to collect.
  • In 1861, Southern planters introduced a self-imposed embargo on cotton exports in an attempt to starve Europe of cotton and force diplomatic recognition of the Confederacy. Britain responded by importing cotton from other parts of the world.
  • In April 1861, the Union imposed a blockade of Southern ports that remained for the duration of the war, limiting sources of food, medicine, and war supplies.
  • The Confederacy soon turned to issuing bonds and printing money to finance the war.
  • The leniency of Confederate banks during the war encouraged speculation.
  • In 1861, the Confederate dollar was worth 90¢ in Union dollars; by the war’s end, it was worth.017¢.

Key Terms

  • Union Blockade: Also know as the “Blockade of the South”; took place between 1861 and 1865, during the American Civil War, when the Union Navy maintained a strenuous effort along the Atlantic and Gulf Coast of the Confederate States of America to prevent the passage of trade goods, supplies, and arms to and from the Confederacy.
  • Confederate States of America Dollar: Currency first issued into circulation in April 1861 when the Confederacy was only two-months old on the eve of the outbreak of the Civil War.
  • war-tax: A direct charge levied on the population of a state utilized for some period of time to finance a war or conflict.

Early in the war, the Confederate economy relied mostly on tariffs on imports and taxes on exports. The Confederate economy also relied on voluntary donations of coins and bullion from private individuals in support of the Confederate cause; these were initially quite substantial, but became scarce by the end of 1861. A small “war-tax” was enacted in August 1861, but proved to be politically unpopular among Southern Democrats and difficult to collect.

The Confederate government desperately sought to secure international recognition of the Confederacy as a nation and gain European allies. The Confederate government hoped to force diplomatic recognition of the Confederacy by starving Europe of cotton. In 1861, Southern planters agreed to a self-imposed embargo on cotton exports. Cotton was stored in warehouses and used to prop up Confederate war bonds sold in Europe. Throughout the war, the South clung to the notion that the Confederacy would be able to capitalize on its cotton monopoly.

This embargo was effective at first, creating an immediate source of income from the valuable cotton-backed bonds, shutting down hundreds of textile factories, and putting thousands of people in Europe out of work. However, the embargo became a loss for the Confederacy when the British did not cave in to its demands, choosing instead to import cotton from Egypt and India in 1862.

The self-inflicted damage resulting from the embargo was exacerbated by the blockade of Southern ports by the Union Navy, beginning in 1861. The Union blockade greatly diminished the revenue from taxes on international trade, and Southern cotton exports fell by 95 percent. This powerful weapon eventually ruined the Southern economy. Ordinary freighters had no reasonable hope of evading the blockade and soon stopped calling at Southern ports. The blockade largely reduced imports of food, medicine, war materials, manufactured goods, and luxury items, resulting in severe shortages and inflation.

An image of the SS Banshee

The blockade runner USS Banshee (1862), by R.G. Skerrett, 1899: The USS Banshee was among the blockade runners that attempted to evade the Union blockade of the Confederate coast.

The illustrated map shows a giant snake, "Scott's Great Snake," wrapped around the Confederate states. Its tail is coiled around a flagpole with a U.S. flag and a liberty cap at Washington, D.C. Its body extends around Florida and up through Texas, Indian Territory, Kansas, and around to Missouri. It's head, which rests above southern Missouri, is decorated <b>bank of north america 1862 one dollar</b> the stars and stripes of the American flag. It bears its fangs, driving "Jackson & Co." into Arkansas.

Cartoon map illustrating General Winfield Scott’s plan to crush the Confederacy economically, 1861: This snake represents the Union blockade of Southern ports.

Hoping to avoid an unpopular tax increase, the Confederacy soon turned to issuing debt and printing Confederate money to finance the war. Many banks suspended specie payments at the end of 1860, and thereafter irresponsibly increased banknote issue and loans. These choices added to the general redundancy of the currency and stimulated speculation. During the course of the war, Confederate States of America dollars severely depreciated and eventually became worthless. The resulting inflation remained a problem for the Southern states throughout the remainder of the war, collapsing the South’s financial infrastructure and forcing a move to a barter economy for civilians.

By 1863, the Southern economy, which was completely tied to the price of cotton, had crashed, crippling the South’s ability to secure any kind of European alliance or purchase badly needed war supplies. With little revenue from taxation, and with the disastrous effects of the wholesale issue of paper money before it, the Confederate government made every effort to borrow money by issuing bonds. These bonds, however, depreciated rapidly as the economy collapsed. At the beginning of the war, the Confederate dollar was valued at 90¢ in Union dollars. By the war’s end, its price had dropped to only.017¢.

image

Five-dollar and 100-dollar Confederate States of America banknotes: Confederate currency, widely distributed during the war, ultimately lost all value.

Union Politics

Republicans were split between those who sought peace within the Confederacy and those who wanted emancipation for slaves.

Learning Objectives

Explain the policies enacted by the Republican Party during the Civil War

Key Takeaways

Key Points

  • Prior to the war, Abraham Lincoln attempted to abstain from the debate over slavery, arguing that he had no constitutional authority to intervene.
  • Copperhead Democrats opposed emancipation and sought an immediate peace settlement with the Confederacy.
  • In August 1861, the First Confiscation Act authorized the confiscation of any Confederate property, including slaves, by Union forces.
  • In July 1862, Congress passed the Second Confiscation Act, declaring that any Confederate official who did not surrender within 60 days of the act’s passage would have his slaves freed.
  • On September 22, 1862, Lincoln issued a preliminary proclamation that he would order the emancipation of all slaves in any state of the Confederacy that did not return to Union control by January 1, 1863.
  • The Emancipation Proclamation took effect, affirming the freedom of slaves in the 10 states that were then in rebellion.

Key Terms

  • Radical Republicans: A loose faction of American politicians within the Republican Party from about 1854 (before the American Civil War) until the end of Reconstruction in 1877. Radicals strongly opposed slavery during the war and after the war distrusted ex-Confederates, demanding harsh policies for the former rebels, and emphasizing civil rights and voting rights for freedmen (recently freed slaves).
  • Copperhead Democrats: A vocal group of Democrats located in the Northern United States of the Union who opposed the American Civil War, wanting an immediate peace settlement with the Confederates.
Portrait of Thaddeus Stevens

Thaddeus Stevens, ca. 1863: Stevens was a leader among the Radical Republicans, supporters of emancipation.

Prior to the Civil War, Abraham Lincoln attempted to abstain from the debate over slavery, arguing that he had no constitutional authority to intervene. As the war progressed, emancipation remained a risky political act that had little public support. Lincoln faced strong opposition from Copperhead Democrats, who demanded an immediate peace settlement with the Confederacy. Many recent immigrants in the North also opposed emancipation, viewing freed slaves as competition for scarce jobs. Within the Republican Party, however, the Radical Republicans, led by House Republican leader Thaddeus Stevens, put strong pressure on Lincoln to end slavery quickly. One of the Radicals Republicans’ most persuasive arguments was that the rebel economy would be destroyed were it to lose slave labor.

Congress passed several laws between 1861 and 1863 that aided the growing movement toward emancipation. Despite his concerns that premature attempts at emancipation would weaken his support and entail the loss of crucial border states, Lincoln signed these acts into law. The first of these laws to be implemented was the First Confiscation Act of August 1861, which authorized the confiscation of any Confederate property, including slaves, by Union forces. In March 1862, Congress approved a Law Enacting an Additional Article of War, which forbade Union Army officers from returning fugitive slaves to their owners. The following month, Congress declared that the federal government would compensate slave owners who freed their slaves. Moderate Republicans accepted Lincoln’s plan for gradual, compensated emancipation, which was put into effect in the District of Columbia.

In June 1862, Congress passed a Law Enacting Emancipation in the Federal Territories, and in July, passed the Second Confiscation Act, which contained provisions intended to liberate slaves held by rebels. The latter act also declared that any Confederate official, military or civilian, who did not surrender within 60 days of the act’s passage would have his slaves freed.

In order to increase public support for emancipation, Lincoln strategically chose to associate the Emancipation Proclamation with the Union victory at the Battle of Antietam in September 1862. On September 22 of that year, Lincoln issued a preliminary proclamation that he would order the emancipation of all slaves within all Confederate states that did not return to Union control by January 1, 1863. When none of the states returned to the Union by that date, Lincoln honored his proclamation, and the order immediately took effect.

The title page of the pamphlet reads, "Abraham Africanus I. His secret life, as revealed under the mesmeric influence. Mysteries of the White House. J.F. Fleeks, Publisher. No. 26 Ann Street, NY." The page includes an dark-skinned portrait of Abraham Lincoln, wearing a crown.

Copperhead pamphlet from 1864 mocking President Abraham Lincoln: The Copperhead Democrats strongly sears national customer service phone number emancipation and pressured Lincoln to make peace with the Confederacy.

Predictably, the Confederates were initially outraged by the Emancipation Proclamation and used it as further justification for their rebellion. The Proclamation was also immediately denounced by Copperhead Democrats, a more extreme wing of the Northern Democratic faction of the Democratic Party that opposed the war and hoped to restore the Union peacefully via federal acceptance of the institution of slavery. Additionally, these Democrats viewed the Proclamation as an unconstitutional abuse of Presidential power. Controversy surrounding the Emancipation Proclamation, as well as military defeats suffered by the Union, caused many moderate Democrats to abandon Lincoln and join the more extreme Copperheads in the 1862 elections. Democrats gained 28 seats in the House in the 1862 election cycle, as well as the governorship of New York.

Some Copperheads advocated violent resistance to the wartime effort, which greatly increased tensions between pro-war and anti-war factions. Though no organized attacks ever materialized, wells fargo hours near me politics did give rise to the Charleston Riot in Illinois during March 1864. Many Copperhead leaders were arrested and held in military prisons without trial, sometimes for months at a time. For example, Ambrose Burnside in 1863 issued General Order Number 38 in Ohio, which made it an offense to criticize the war in any way. The order was then used to arrest a congressman from Ohio, Clement Vallandigham, when he criticized the order itself. Additionally, a number of Copperheads were accused of treason by Republicans in a series of trials that took place during 1864.

A faction within the Republican Party, called the “Radical Republicans,” also opposed the war. Unlike the Copperheads, Radical Republicans were strongly against the institution of slavery and pushed for uncompensated abolition of the slaves as opposed to Lincoln’s plan to pay individuals who freed their slaves and were also loyal to the Union. For a brief time in 1864, Radical Republicans formed a new political party called the “Radical Democracy Party” with John Frémont as their presidential candidate, but the party dissolved when Frémont withdrew his candidacy. Radical Republicans were generally critical of President Lincoln, but he still appointed members of all political factions to his cabinet.

Confederate Politics

Confederate politics were dominated by the tension between states’ rights and the military needs of the Confederacy.

Learning Objectives

Examine the tensions between Confederate state leaders and President Jefferson Davis

Key Takeaways

Key Points

  • States’ rights continually caused tension between state leaders and President Jefferson Davis.
  • Powerful state governors used states’-rights arguments to withhold militia units from national service.
  • North Carolina Governor Zebulon Vance frequently opposed Davis over the issue of states’ rights.
  • Conscription, put into law by the Confederate Congress in April 1862, was a particularly unpopular practice within the Confederacy.
  • Davis also feuded bitterly with Vice President Alexander Stephens.
  • The lack of a two-party political system prevented the emergence of alternatives to the way in which war was conducted by the Davis administration.

Key Terms

  • Zebulon B. Vance: (May 13, 1830–April 14, 1894) Confederate military officer in the American Civil War, the 37th and 43rd Governor of North Carolina, and U.S. Senator. A prodigious writer, Vance became one of the most influential Southern leaders of the Civil War and postbellum periods.
  • Alexander Stephens: (February 11, 1812–March 4, 1883) An American politician from Georgia. He was Vice President of the Confederate States of America during the American Civil War. He also served as are mushrooms really good for you U.S. Representative from Georgia (both before the Civil War and after Reconstruction) and as the 50th Governor of Georgia from 1882 until his death in 1883.
  • conscription: Involuntary labor, especially military service, demanded by some established authority or government.

States’ rights, one of the primary platforms for secession, was an enduring issue in Confederate politics that caused tension between state leaders and President Jefferson Davis.

image

Illustration of Confederate cabinet, Harper’s Weekly, 1861: Front row, left to right: Judah P. Benjamin, Stephen Mallory, Alexander Stephens, Jefferson Davis, John Henninger Reagan, and Robert Toombs. Back row, standing left to right: Christopher Memminger and LeRoy Pope Walker.

Davis clashed with powerful state governors who used states’-rights arguments to hamper mobilization plans. Governors and state legislatures, fearing that Richmond would encroach on the rights of the states, withheld soldiers and funds from the war effort. The first conscription act in North America authorizing Davis to draft soldiers was viewed as the, “essence of military despotism.”

Portrait of Zebulon Baird Vance

Zebulon Baird Vance, ca. 1870s: Zebulon Vance, Governor of North Carolina, challenged the central Confederate government.

Governor Zebulon B. Vance of North Carolina, a powerful advocate of states’ rights, frequently opposed Davis. Vance was particularly opposed to conscription efforts in North Carolina, limiting recruitment success in that state. Vance’s work to mitigate harsh Confederate conscription practices inspired his nickname, “War Governor of the South.” North Carolina was also the only state to observe the right of habeas corpus during the war. Vance insisted that a portion of supplies smuggled into North Carolina by blockade runners be given to the state, despite need elsewhere. Georgia’s governor Joseph Brown also spoke out against attempts by Davis to expand the rights of the Confederate central government.

Davis also feuded bitterly with his vice president. Vice President Alexander Stephens was a strong proponent of states’ rights, placing this principle above military considerations. Throughout the war, Stephens denounced many of the President’s policies, including conscription, suspension of the writ of habeas corpus, impressment, various financial and taxation policies, and Davis’ military strategy.

Despite political differences, no political parties were formed within the Confederacy. Without a two-party system, electoral protests tended to be narrowly state-based. The 1863 midterm elections became mere expressions of futile and frustrated dissatisfaction. The lack of a functioning two-party system prevented the formulation of any effective alternatives to the conduct of the war by the Davis administration.

Источник: https://courses.lumenlearning.com/boundless-ushistory/chapter/government-during-the-war/

A Brief History of North Carolina Money

by
Neil Fulghum
Keeper, North Carolina Collection Gallery, 1986-2008

In his 1977 book The Age of Uncertainty, noted economist John Kenneth Galbraith observes, “Money…ranks with love as man’s greatest joy.  And it ranks with death as his greatest source of anxiety.” Money has certainly been the cause of widespread anxiety and social instability in North Carolina’s past, as it has been in other states. Scarcities of coins, overproduction of paper money, short-sighted fiscal policies, inadequate or nonexistent banking regulations, and counterfeiting plagued and complicated the daily lives of our Tar Heel ancestors, often making it difficult for them to buy or sell basic goods and services. It was not until after the Civil War that the United States’ monetary system began to centralize and stabilize under federal authority. Until that development, North Carolina and other states had to depend largely on the uncertain paper moneys issued by their own governmental officials and by private banks and other businesses.

The Colonial Era

Mexican (Spanish colonial) eight reales coin, 1761

Due to monetary and commercial restrictions imposed on the colonies by England (Great Britain after 1707), coinage was often in short supply in many locations in the Carolinas and elsewhere in North America during the 1600s and 1700s. English pence and shillings did circulate in these regions, and there were early efforts in Massachusetts, Connecticut, Maryland, and in a few other colonies to strike or import supplies of coinage to ease shortages. Those efforts, however, proved to be isolated and very limited in scope, so England’s American subjects routinely employed barter in their transactions, directly exchanging food, clothing, tools, livestock, and other items with one another. They also relied increasingly on foreign coins that filtered into their local economies through unauthorized trade and incidental dealings with visitors and new settlers in their communities. Dutch “lions,” French deniers and écus, Portuguese “joes,” and Spanish cobs and milled dollars were among the copper, silver, and gold pieces found inside the pockets, purses, and lock boxes of American colonists

Hand written N. C. paper money, 1729
Forty shillings paper money, 1748
Five dollar paper money of 1775

Insufficient supplies of coinage and shortfalls in revenues finally prompted some of England’s “New World” colonies to produce money in another form: paper. Massachusetts was the first colony to issue paper money in 1690 (four years before the Bank of England did so), followed by South Carolina in 1703, and New York in 1709. In 1712 and 1713, North Carolina’s colonial assembly approved the issue of 12,000 pounds in bills of credit to pay for military equipment and supplies during North Carolina’s war against the Tuscarora Indians. Since no printer resided in North Carolina at the time, all of that currency had to be handwritten. North Carolina’s subsequent authorizations of 1715, 1722, and 1729—which consisted of over 47,000 more bills with a combined face value of 76,000 pounds—were also penned entirely by hand.

At first it appeared that paper money might be a convenient, quick solution to the colonies’ financial problems. Unfortunately, the over-production of these currencies and counterfeiting of bills began to erode public confidence in domestic issues. By 1720, bogus money had become a bank of america wire transfer routing number california serious problem in North Carolina. That year Royal Governor Charles Eden complained in a speech to the assembly that the “quantity of counterfeit currency among us” was harming the economy and bringing ruin to “many honest homes and families.” Fourteen years later, Governor Gabriel Johnston echoed his predecessor’s concerns about “the great Multiplicity” of counterfeit bills being passed by “Vagabond and Idle people.” By then, by 1734, North Carolina’s government discontinued its production of handwritten money. North Carolina still had no printer living within its borders, so officials had to contract a craftsman in another colony to produce North Carolina’s authorizations of 1734 and 1735. The use of printed currencies did not stop counterfeiting. Even the adoption of far harsher penalties for the crime did not markedly curb the practice. Legislation passed by North Carolina’s assembly in 1745 required that for a first offense, anyone convicted of forging, altering, or knowingly passing counterfeit bills would publicly “stand in the Pillory for the space of two hours, have his ears nailed to the same and cut off.” After a second conviction, the offender would be summarily executed “without benefit of Clergy.”

North Carolina at last gained the services of a printer in 1749, when James Davis of Virginia moved to New Bern to establish his shop. As soon as Davis had his press set up there, North Carolina’s government assigned him the task of printing the money it had authorized in 1748 to build coastal defenses against possible Spanish attacks. Colonial records document that officials paid Davis half his annual salary on October 17, 1749, for completing the “stamping and emitting the sum of Twenty one Thousand Three Hundred and Fifty pounds [in] public Bills of Credit.” Later, in 1754, the prospects of armed confrontations with French forces and their Native American allies prodded North Carolina once again to issue bills to underwrite the construction of additional fortifications and to equip troops. Problems with these currencies and later bills released bank of north america 1862 one dollar North Carolina and other colonies finally moved the British where to pay alabama power bill to take restrictive actions. Parliament’s Currency Act of 1764 and further legislation in 1773 further tightened London’s control over North America’s monetary affairs and forbade nearly all forms of colonial currency. Prior to the implementation of those controls, in the period between 1712 and its issue of 1771, North Carolina alone had authorized eighteen emissions of paper money that in face value exceeded 343,000 pounds.

American Revolution

The Rising States, 1778 paper money printed by James Davis
Back of 1778 note

During the Revolution, deficiencies in coinage and the accelerating instability of American paper moneys proved to be greater threats to the goal for independence than were British muskets. In North Carolina the provisional government that replaced royal authority had an empty treasury and qualified as a poor risk for any potential loans. Therefore state officials, like their colonial predecessors, had to resort once again to printing currency to supply North Carolina’s troops and to finance other governmental needs. In Philadelphia, the Continental Congress also authorized the printing of currency to cover its administrative and war-related expenses. Over 241 million dollars in “Continental currency” flooded North Carolina and the other states during the Revolution. Unsupported by any reserves of silver or gold, this congressional currency rapidly depreciated, so much so that Americans long after the war used the phrase “Not worth a Continental” to describe anything of little or no value.

Grand Union flag on 1776 paper money
1779 paper money

With further regard to North Carolina’s currencies in this period, the bills and notes it issued on the eve of the Revolution and during the fight for independence were products of several craftsmen. Silversmith William Tisdale of New Bern is jos a bank suit rental cost with printing the authorization of 1775; Gabriel Lewyn of Baltimore, Maryland, produced the state’s 1776 issue; James Davis, its 1778 issue and two authorizations of 1780; and Hugh Walker of Wilmington, the intervening issue of 1779. Walker, it should be added, produced North Carolina’s 1779 currency, because Davis was unable to print it in New Bern due to a smallpox epidemic in the town and fears that the disease would spread across the region if bills contaminated with smallpox were issued from there.

Overall, North Carolina’s elected officials authorized the printing of more than eight million dollars in currency between August 1775 and the state’s last wartime issue of May 10, 1780. That given dollar amount is misleading, for it is only the total face value of those currencies, not a true measure of their buying power. As in the casas en san jose california of the paper moneys issued by the Continental Congress and other new states, the real value of North Carolina’s currency fell dramatically during the Revolution. By December 1780, North Carolina’s bills were being generally accepted or exchanged at an a rate of 725:1, meaning that 725 dollars in North Carolina currency was equal to only one dollar in silver or gold.

Early Federal & Antebellum Periods (1780s-1860)

North Carolina treasury note, 1815

After the Revolution, all of the Continental dollars and other paper currencies issued during the war had been thoroughly discredited. Nevertheless, North Carolina’s government still found it necessary to print its own currency in 1783 and again in 1785 to meet its obligations. Public mistrust for paper money, especially for any bills with face values in dollars, prompted North Carolina and several other states to revert to using colonial-era denominations, utilizing the British duodecimal system of pence, shillings, and pounds.

Later, when North Carolina formally ratified the United States Constitution and joined the Union in November 1789, the state agreed to abide by the founding document’s provisions, including its restrictions regarding the minting and printing of money. Article I, Section 10, of the Constitution forbids any state from minting coins or emitting “Bills of Credit” (paper money) or “make any Thing but gold and silver Coin a Tender in Payment of Debts.” Although these restrictions sought to unify the nation’s monetary supply by not allowing states to produce their own money, the provisions did not specifically prohibit private individuals or businesses from doing so. As a result, the vast majority of currency that circulated in the economy between the American Revolution and the Civil War was paper money issued by private banks. The Bank of Cape Fear in Wilmington and the Bank of New Bern, both chartered in 1804, were North Carolina’s first banks and were the first to issue bank notes in the state. Citizens here and elsewhere relied heavily on such bank notes, as well as on other forms of money, such as scrip or “due bills” issued by merchants, private academies, and later by insurance companies and textile mills.

Christopher Bechtler $5 gold coin circa 1834

During the early 1800s, North Carolina’s state government was one that appeared to defy openly the Constitution’s restrictions on the production and issue of state-sanctioned currencies. On three occasions—in 1815, 1817, and 1824—North Carolina’s legislature authorized the printing of state treasury notes. The chief purpose of that money was to make it possible for North Carolina’s cash-strapped government to buy bank stocks. Produced in denominations of less than a dollar (known as fractionals), those notes did not remain just within the realm of the state’s banking system; they found their way into the economy, remaining in circulation for many years and being used by citizens to transact business and often to pay their taxes.

Being a relatively poor state with few factories, North Carolina’s small-farm economy grew slowly during the first half of the nineteenth century. The state, along with the rest of the South, therefore, did not require the same levels of capital and expansion in its banking system as those demanded in the industrial North. Despite this, the number of banks in North Carolina did rise steadily before the Civil War. By 1860, there were thirty-six private banks with branches operating in communities across the state. Nearly all of them issued currencies that were printed under contract by engraving firms in New York and Philadelphia. With each passing decade, the selection of bank notes produced by those companies became more elaborate and beautiful, employing more details in their design and more complex uses of color to thwart the ever-improving skills of counterfeiters.

While the first half of the nineteenth century bank of america wire transfer routing number california, numismatically speaking, an era dominated by paper money, that period also witnessed a bona fide “golden age” of coinage in North Carolina. In 1799, the United States’ first documented discovery of gold occurred in the state’s western piedmont, in Cabarrus County. There a small boy named Conrad Reed found on his father’s farm a seventeen-pound rock heavily laced with the precious metal. By the 1820s, large-scale mining operations were in place in the region, with millions of dollars in gold being shipped to Philadelphia for coining at the United States Mint. In fact, prior to 1829, North Carolina furnished all the native gold coined by the national mint.

Bank of Washington $50, 1855

The inherent dangers of transporting valuable supplies of raw gold to Pennsylvania made it obvious to many North Carolina prospectors and businessmen that they needed the services of local craftsmen who could accurately assay and transform their gold dust, ore, and nuggets into accurate and convenient gold pieces. In response to those needs, both private and public minting operations were established in North Carolina, as well as in northern Georgia during the 1830s. German-born metal smith Christopher Bechtler, Sr, set up a shop in Rutherford County, N.C., in 1830. Initially, Bechtler concentrated on crafting jewelry and watches; but soon he, his son, and a nephew began to use a hand press and dies made in the Bechtler shop to strike coins with the gold that people brought to them. The Bechtlers produced coins in three denominations. a dollar, a “quarter-eagle” ($2.50), and a “half-eagle” ($5).

The success of the Bechtler family’s private coining business and that of private minter Templeton Reid in Georgia were among factors that convinced the federal government in 1835 to found a branch of the United States Mint in Dahlonega, Georgia; one in Charlotte; and another branch farther south, in New Orleans. In North Carolina the Charlotte Mint and the Bechtlers together would coin over eight million dollars in gold before the Civil War.

Civil War

North Carolina Civil War treasury note $2 printed by the N.C. Inst. for the Deaf & Dumb
North Carolina 5 cent treasury note, 1861

With the outbreak of war in 1861, North Carolina and the other states that left the Union were no longer bound by the United States Constitution’s monetary restrictions. Yet, the Confederate Constitution, like its federal counterpart, stipulated that “No State shall. . coin money; [and] make anything but gold and silver coin a tender in payment of debts. ” Such provisions, especially in time of war, quickly proved unrealistic and entirely unworkable. The Confederate government lacked the metal reserves to strike coinage, so from the outset of the conflict, the Confederacy and its constituent states were forced to rely on a mind-boggling array of paper currencies to run the South’s economy and to finance its battle against the North. The Confederate treasury alone issued at least seventy different types of notes that in face value amounted to nearly two billion dollars. This massive volume of paper money was supplemented by a wide range of official state currencies and by hundreds of notes of different sizes and designs distributed by private banks and other businesses throughout the South. This confusing mix of money steadily increased the stresses on the Confederacy’s economy, broke public confidence in the South’s fiscal policies, and hampered the collection of taxes at all levels of government.

10 cent note issued by Elizabeth City, 1862

North Carolina’s state convention and legislature authorized the printing of $16,420,000 in treasury notes during the war. That dollar amount seems puny when compared to the monstrous sums issued by the Confederate government, but for North Carolina it proved too much. As elsewhere in the South, the strains of war made it impossible for the state’s currency to hold its value. More and more money was needed to buy ever-dwindling supplies of food and other necessities. Between 1862 and 1865, for examples, the price of wheat rose more than 1,600 per cent; bacon soared 2,300 per cent; and flour almost 2,800 per cent. By early 1865, a North Carolinian needed as much as $600 to buy a pair of basic shoes and $1,500 to purchase a simple overcoat. Such exorbitant increases in the cost of living and accusations of profiteering often caused civil unrest on the homefront. Earlier, in 1863, bank of north america 1862 one dollar crowd composed largely of soldiers' wives confronted a store owner in Salisbury about his high price for flour. When the owner dismissed their complaints and brusquely closed the front door of his storehouse, some of the women reopened the door with hatchets. The owner then quickly agreed to provide the ladies with ten barrels of flour at reduced prices.

Growth of a National Banking System

Commercial National Bank of Charlotte $10, 1894

The confusion and financial problems associated with the multitude of currencies used by Americans both before and during the Civil War convinced the federal government to alter and refine the nation’s monetary structure, adopting changes that led ultimately to the creation of common standards for notes used in the United States. During the war, the Union government had also relied on various forms of paper money. National bank notes were one type of currency created by federal officials in 1863. Printed under the authority and supervision of the United States government, those notes were issued to private banks, which, in turn, introduced them into the economy. This new system extended into South after the Confederacy’s destruction in 1865, with the National Bank of Charlotte becoming the first such institution in North Carolina to receive a national banking charter from the United States government. Other national banks opened in the state, as did thousands more throughout the reunified, growing nation. According to Arthur and Ira Friedberg’s 2001 catalog Paper Money of the United States, a total of 14,348 national banks were established in the country between 1863 and 1935. Only 146 of this large number—barely one percent—consisted of North Carolina national banks. Due to this small number of North Carolina national banks, the North Carolina notes that survive from the era usually command very high prices in numismatic markets today.

Roanoke commemoritive half dollar, Virginia Dare and Sir Walter Raleigh, 1937

Money collectors broadly categorize national bank notes into two types: a larger type and a smaller, less ornate type issued after 1928. Regardless of where they circulated, though, all national bank notes of the same type and series look identical in their basic design. Their only minor differences or variations pertain to overprints of the issuing bank’s name, location, and individual charter number. For instance, the Citizens National Bank of Raleigh was the 1,766th national bank chartered, so all of its notes (one of which is illustrated on this page) carry that bank’s title and the bold charter number 1766.

During the decades before the Civil War, another private supplier of money began to issue much-needed coinage from Rutherford County, N.C. German-born jeweler Christopher Bechtler, Sr., his son Augustus, and a nephew coined millions of dollars in gold excavated in the region. Years before the more famous strike in California, North Carolina was home to the United States’ first gold rush. Prospectors swarmed over the state’s western piedmont, where their panning, digging, and blasting uncovered rich surface deposits and winding subterranean veins of the precious metal. In fact, prior to 1829, North Carolina’s mining industry furnished all the native gold coined by the United States Mint in Philadelphia. By 1837, the level of gold production in the state and the Bechtlers’ continuing success prompted the federal government to establish a branch of the national mint in Charlotte. Together, that branch mint and the Bechtlers would produce almost nine million dollars in gold coinage during the antebellum period.

North Carolina state quarter, 2001

Following the formation of the national banking system, the United States government continued to assume greater and greater control over the printing and distribution of the nation’s currency. By 1887, the Bureau of Engraving and Printing in Washington, D.C., became responsible for producing all the paper money that circulated throughout the country, including national bank notes. The establishment of the Federal Reserve System in 1913 consolidated and intensified federal controls over the nation’s money supply. That system, which remains in force today, consists of twelve Federal Reserve districts that disburse United States currency to thousands of commercial banks. Those banks essentially buy money from the Federal Reserve by paying a percentage of interest known as the “discount rate.” The banks then loan and invest that money in various enterprises. They also help to monitor the condition of the nation’s currency by replacing notes and coins in circulation that are overly worn or damaged. North Carolina’s banks are located within the Fifth Federal Reserve District, which is headquartered in Richmond, Virginia.

North Carolina PLENTY local currency, 2002

After the establishment of the Federal Reserve System, public and private involvement in making and issuing currencies effectively ended on state and local levels. There have been, however, exceptions and occasions after 1913 when money shortages and other circumstances compelled local authorities to issue their own forms of money. During the Great Depression in the 1930s, Cumberland County and the City of Gastonia are two of many examples in North Carolina where cash-poor local governments issued scrip to help fund the operation of schools, the construction and repair of county and municipal roads, and the administration of other vital community services disrupted by the United States’ dire economic troubles. A piece of scrip, unlike a Federal Reserve note, is not legal tender, meaning it is not recognized by law as an acceptable payment for all public and private debts anywhere in the nation. Scrip is instead a form of paper money that is be used within a geographically defined area, usually for a specific purpose, and for a limited or fixed period of time.

Another, more up-to-date example of a North Carolina scrip is the “Plenty” in Orange County. First issued in 2002 by an incorporated, non-profit organization in Carrboro, the Plenty’s purpose is to support local commerce and safeguard area jobs through the use of a community-based currency. The Plenty’s face values of one, one-half, and one-quarter represent units based on an hourly wage of ten dollars per hour. Hence, residents in and around the town of Carrboro accept this scrip, under varying conditions, on par with United States currency of $10, $5, and $2.50. Plenty notes, which are printed with soy-based inks on a watermarked paper composed of recycled bamboo and hemp, feature very colorful decorative elements and the motto “In Each Other We Trust.” As far as imagery is concerned, all three denominations of the Plenty carry the same large oak tree and landscape on their faces. Their backs are distinguished by insets of local scenery and images of trout lilies, the eastern box turtle, and great blue heron.

On the national level, the United States Mint in 1999 launched a commemorative-coin program that has reconnected all the states, at least symbolically, to America’s money supply and to the nation’s numismatic history. The Mint over a ten-year period is striking five commemorative state quarters each year. Each of those twenty-five-cent pieces has the same portrait of President George Washington on its obverse but a unique design on its reverse. Design themes in the series include popular tourist sites, historic events, and other symbols associated with each state. The order of the coins’ release is chronological, in sequence with the dates when the states ratified the Constitution and joined the Union. When North Carolina entered prosperity bank online banking sign in Union in November 1789, it was the twelfth state to do so. The United States quarter showcasing North Carolina is therefore the twelfth coin in the series. Issued in 2001, North Carolina’s “First Flight” quarter depicts the Wright Brothers’ first successful powered flight along the dunes at Kitty Hawk in Dare County on December 17, 1903.

Today, it is estimated that more than 675 billion dollars in United States currency are being used in daily transactions or held in vaults throughout the world. Over time this vast supply of dollars, at least in terms of actual coinage and Federal Reserve notes, will shrink as money increasingly assumes an electronic form. In North Carolina and elsewhere, most citizens now receive their salaries and conduct much of their business through computer networks. Money is no longer just coins or pieces of paper that people physically exchange; rather, it is more often simply groups of numbers in a data base that are subtracted or added to accounts through on-line banking services and the scanning of plastic debit and credit cards. Such electronic transactions will continue to increase and expand globally, although cash in its traditional forms will also continue to be used in the United States and in foreign economies for many years to come.

Источник: https://exhibits.lib.unc.edu/exhibits/show/historicmoneys/numishist

Minnesota Treaties

Treaty of Traverse des Sioux, painted for Minnesota State Capitol by Francis David Millet, 1905"Suppose your Great Father wanted your lands and did not want a treaty for your good; he could come with 100,000 men and drive you off to the Rocky Mountains."

Luke Lea, U.S. negotiator, Treaty of Mendota, 1851

1805: In 1805 the Dakota ceded 100,000 acres of land at the confluence of the Mississippi and Minnesota rivers. U.S. Army Lt. Zebulon Pike negotiated the agreement so the U.S. government could build a military fort there. Of the seven Indian leaders present at the negotiations, only two signed the treaty.

Pike valued the land at $200,000, but no specific dollar amount was written into the treaty. At the signing, he gave the Indian leaders gifts whose total value was $200. The U.S. Senate approved the treaty, agreeing to pay only $2,000 for the land.

Generally, the Indians who signed treaties did not read English. They had to rely on interpreters who were paid by the U.S. government. It is uncertain whether they were aware of the exact terms of the treaties they signed.

Minneapolis and St. Paul are located on land ceded in 1805.

1825: The U.S. government arranged the Prairie du Chien treaty between the Dakota and Ojibwe, as well as the Menominee, Ho-Chunk, Sac and Fox, Iowa, Potawatomi, and Ottawa tribes. The treaty set the boundaries of tribal land. After that, it was simpler for the government to negotiate with the Indians for the purchase of their lands.

1837: At Fort Snelling in 1837, the Ojibwe ceded their land north of the 1805 area to the U.S. government in exchange for cash, the payment of claims made by traders, and annual payments of cash and goods, or annuities.

Later that year, a group of Dakota leaders was brought to Washington, D.C., having been told that they would be negotiating the settlement of their southern boundary. Instead, they were pressured into ceding all their land east of the Mississippi. The land was valued at $1,600,000, but the U.S. government agreed to pay far less. The Dakota were promised the interest on $300,000, invested at 5 percent. This amounted to $15,000 per year. Bank of north america 1862 one dollar government kept control over one-third of this money, reserving (but not allocating) it for education. Another $200,000 was paid to friends and relatives of the tribe and to settle debts, and $16,000 was given to the Dakota leaders as an incentive to sign the treaty. Each year for 20 years, $23,750 was allocated for annuity payments, food, education, equipment, supplies, and government services.

1847: In 1847 the Ojibwe ceded land for Ho-Chunk and Menominee reservations. This land is west of the 1837 sale. The Ojibwe received $17,000 in cash for the land and the promise of $1,000 annually for the following 46 years. The Ho-Chunk and Menominee reservations were never established.

1851: Minnesota became a territory in 1849. White settlers were eager to establish homesteads on the fertile frontier. Pressured by traders and threatened with military force, the Dakota were forced to cede nearly all their land in Minnesota and eastern Dakota in the 1851 treaties of Traverse des Sioux and Mendota. At Traverse des Sioux, the Sisseton and Wahpeton bands of the Dakota ceded 21 million acres for $1,665,000, or about 7.5 cents an acre. Of that amount, $275,000 was set aside to pay debts claimed by traders and to relocate the Dakota. Another $30,000 was allocated to establish schools and to prepare the new reservation for the Dakota.

The U.S. government kept more than 80 percent of the money ($1,360,000), with only the interest on the bank of north america 1862 one dollar 5 percent for 50 years--paid to the Dakota. The terms of the Mendota treaty with the Mdewakanton and Wahpekute bands of the Dakota were similar, except that those payments were even smaller. The treaties of 1851 also called for setting up reservations on both the north and south sides of the Minnesota River. But the U.S. Senate changed the treaties by eliminating the reservations and leaving the Dakota with no place to live. Congress required the Dakota to approve this change before appropriating desperately needed cash and goods. President Millard Fillmore agreed that the Dakota could live on the land previously set aside for reservations, but only until it was needed for white settlement.

1854: The arrowhead region of northeastern Minnesota was purchased from the Ojibwe. Three small reservations were located on parts of this land.

1855: The Ho-Chunk ceded their land in Minnesota, except for one small reservation in the southeastern corner of the Territory. The Ojibwe ceded land in north-central Minnesota. Nine reservations were created on this traditional Ojibwe land.

1858: A month after Minnesota became a state, a group of Dakota traveled to Washington, D.C., to discuss their reservation. The Dakota were pressured to cede the lands on the north side of the Minnesota River. They received 30 cents per acre, estimated to be only about 5 percent of the land's value. When the funds were finally distributed in 1860, most of the $266,880 promised went to pay debts claimed by traders.

By 1858 the Dakota had only a small strip of land in Minnesota. Without access to the bank of north america 1862 one dollar upon which they had hunted for generations, they had to rely on treaty payments for their survival. The inadequate money and goods often arrived late. By summer 1862, most of the Dakota were starving--one of the causes of the U.S.-Dakota War, which lasted six weeks. Nearly 400 Dakota men were tried by a military commission, and 303 were sentenced to death. President Lincoln pardoned many, but 38 Dakota men were hanged in Mankato. The remaining Dakota were sent to prison in Iowa or to reservations at Crow Creek in what is now South Dakota, and at Santee in Nebraska Territory.

In 1863 the Dakota were forced to give up all their remaining land in Minnesota, and the U.S. government canceled all treaties made with them. The Ojibwe reluctantly ceded most of their remaining land in northwestern Minnesota in treaties of 1863, 1864, and 1867. In 1871 Congress ended the practice of making treaties with Indian nations. However, past treaties remained in place.

Источник: https://www.usdakotawar.org/history/treaties/minnesota-treaties

United States one-dollar bill

Current denomination of United States paper equivalent of currency

For the U.S. one-dollar coin, see United States dollar coin.

The United States one-dollar bill ($1) since 1876 has been the lowest value denomination of United States paper currency. An image of the first U.S. president (1789–1797), George Washington, based on the Athenaeum Portrait, a 1796 painting by Gilbert Stuart, is currently featured on the obverse, and the Great Seal of the United States is featured on the reverse. The one-dollar bill has the oldest overall design of all U.S. currency currently being produced (The current two-dollar bill obverse design dates from 1928, while the reverse appeared in 1976). The obverse design of the dollar bill seen today debuted in 1963 (the reverse in 1935) when it was first issued as a Federal Reserve Note (previously, one dollar bills were Silver Certificates).

The inclusion of the motto, "In God We Trust," on all currency was required by law in 1955,[3] and first appeared on paper money in 1957.

As of December 2018, the average life of a $1 bill in circulation is 6.6 years before it is replaced due to wear.[4] Approximately 42% of all U.S. currency produced in 2009 were one-dollar bills.[5] As of December 31, 2019, there were 12.7 billion one-dollar bills in circulation worldwide.[6]

History[edit]

Large size notes[edit]

First $1 bill issued in 1862 as a Legal Tender Note

(approximately 7⅜ × 3⅛ in ≅ 187 × 79  mm)

  • 1862: The first one-dollar bill was issued as a Legal Tender Note (United States Note) with a portrait of Salmon P. Chase, the Secretary of the Treasury who served under President Abraham Lincoln.[7]
  • 1869: The $1 United States Note was redesigned with a portrait of George Washington in the center and a vignette of Christopher Columbus sighting land to the left. The obverse of the note also featured overprinting of the word ONE numerous times in very small green type and blue tinting of the paper. Although this note is technically a United States Note, TREASURY NOTE appeared on it instead of UNITED STATES NOTE.
  • 1874: The Series of 1869 United States Note was revised. Changes on the obverse included removing the green and blue tinting, adding a red floral design around the word WASHINGTON D.C., and changing the term TREASURY NOTE to UNITED STATES NOTE. The reverse was completely redesigned. This note was also issued as Series of 1875 and 1878.
  • 1880: The red floral design around the words ONE DOLLAR and WASHINGTON D.C. on the United States Note was removed and replaced with a large red seal. Later versions also had blue serial numbers and a small seal moved to the left side of the note.
  • 1886: The first woman to appear on U.S. currency, Martha Washington, was featured on the $1 silver certificate. The reverse of the note featured an ornate design that occupied the entire note, excluding the borders.
  • 1890: One-dollar Treasury or "Coin Notes" were issued for government purchases of silver bullion from the silver mining industry. The reverse featured the large word ONE in the center surrounded by an ornate design that occupied almost the entire note.
  • 1891: The reverse of the Series of 1890 Treasury Note was redesigned because the treasury felt that it was too "busy," which would make it too easy to counterfeit. More open space was incorporated into the new design. The obverse was largely unchanged.
  • 1896: The famous "Educational Series" Silver Certificate was issued. The entire obverse was covered with artwork of allegorical figures representing "history instructing youth" in front of Washington D.C. The reverse featured portraits of George and Martha Washington surrounded by an ornate design that occupied almost the entire note.
  • 1899: The $1 Silver Certificate was again redesigned. The obverse featured a vignette of the United States Capitol behind a bald eagle perched on an American flag. Below that were small portraits of Abraham Lincoln to the left and Ulysses S. Grant to the right.
  • 1917: The obverse of the $1 United States Note was changed slightly with the removal of ornamental frames that surrounded the serial numbers.
  • 1918: The only large-sized, Federal Reserve Note-like $1 bill was issued as a Federal Reserve Bank Note (not to be confused with Federal Reserve Notes). Each note was an obligation of the issuing Federal Reserve Bank and could only be redeemed at that corresponding bank. The obverse of the note featured a borderless portrait of George Washington to the left and wording in the entire center. The reverse featured a bald eagle in flight clutching an American flag.
  • 1923: Both the one-dollar United States Note and Silver Certificate were redesigned. Both notes featured the same reverse and an almost identical obverse with the same border design and portrait of George Washington. The only difference between the two notes was the color of ink used for the numeral 1 crossed by the word DOLLAR, Treasury seal, and serial numbers along with the wording of the obligations. These dollar bills were the first and only large-size notes with a standardized design for different types of notes of the same denomination; this same concept would later be used on small-size notes.

Small size notes[edit]

The first small-size $1 Silver Certificate.
Common reverse of $1 Silver Certificates (Series of 1928-1934) and $1 United States Notes (Series of 1928), commonly referred to as "Funnybacks"
The first small-size $1 United States Banknote printed.

(6.14 length × 2.61 width× 0.0043 in thickness = 156 × 66.3 × 0.11 mm)

In 1928, all currency was changed to the size which is familiar today. The first one-dollar bills were issued as silver certificates under Series of 1928. The Treasury seal and serial numbers were dark blue. The obverse was nearly identical to the Series of 1923 $1 silver certificate, but the Treasury seal featured spikes around it and a large gray ONE replaced the blue "1 DOLLAR." The reverse, too, had the same border design as the Series of 1923 $1 bill, but the center featured a large ornate ONE superimposed by ONE DOLLAR. These are commonly known as "Funnybacks" due to the rather odd-looking "ONE" on the reverse. These $1 silver certificates were issued until 1934.

In 1933, Series of 1928 $1 United States Notes were issued to supplement the supply of $1 Silver Certificates. Its Treasury seal and serial numbers were red and there was different wording on the obverse of the note. However, a month after their production, it was realized that there would be no real need for these notes and production was stopped. A small number of these $1 bills entered circulation and the rest were kept in Treasury vaults until 1949 when they were issued in Puerto Rico.[19]

In 1934, the design of the $1 silver certificate was changed. This occurred with that year's passage of the Silver Purchase Act, which led to 1st birthday party ideas for boys themes large increase in dollar bills backed by that metal.[20] Under Washington's portrait, ONE SILVER DOLLAR was changed to ONE DOLLAR. The Treasury seal was moved to the right and superimposed over ONE, and a blue numeral 1 was added to the left. The reverse remained the same.

A year later, in 1935, the design of the one-dollar bill was changed again. On the obverse, the blue numeral 1 was changed to gray and made smaller, the gray ONE to the right was removed, the Treasury seal was made smaller and superimposed by WASHINGTON D.C., and a stylized ONE DOLLAR was added over the treasury seal. The reverse was also changed to its current design, except for the absence of IN GOD WE TRUST.

Special issue $1 Silver Certificate for Allied troops in North Africa

World War II brought about special issues of one-dollar bills in 1942. Special $1 Silver Certificates were issued for Hawaii in case of a Japanese invasion. HAWAII was printed vertically on the left and right side of the obverse and also horizontally across the reverse. The seal and serial numbers were changed to brown. Special Silver Certificates were also issued as payment for Allied troops in North Africa about to begin their assault into Europe. The only difference on these one-dollar bills was a yellow instead of blue seal. Both of these types of notes could be declared worthless if they fell into enemy hands.

The next change came in 1957 when the $1 bill became the first piece of paper U.S. currency to bear the motto IN GOD WE TRUST; it was added over the word ONE on the reverse. Initially the BEP began printing the motto on notes printed with the new 32 note press, but soon Series of 1935G bills printed on an 18 note press featured the motto.

The final production of $1 Silver Certificates occurred in late 1963. In 1964, the redemption of Silver Certificates for silver coin ended and in 1968 the redemption of Silver Certificates for silver bullion ended.

Production of one-dollar Federal Reserve Notes was undertaken in late 1963 to replace the soon-to-be obsolete $1 Silver Certificate. The design on the reverse remained the same, but the border design on the obverse underwent considerable modification, as the mostly abstract filigrees were replaced with designs that were mostly botanical in nature. In addition, the word "one," which appeared eight times around the border in small type, was eliminated. The serial numbers and treasury seal were printed in green ink. This was the first time the one-dollar bill was printed as a Federal Reserve Note.

The first amazon a to z hub work login since then came in 1969, when the $1 was among all denominations of Ofb latest orders Reserve Notes to feature the new Treasury seal, with English wording instead of Latin.[21]

The $1 bill became the first denomination printed at the new Western Currency Facility in February 1991, when a shipment of 3.2 million star notes from the Dallas FRB was produced.[22]

Though bill denominations of $5 and higher have been redesigned twice since 1995 as part of ongoing anti-counterfeiting efforts, there are currently no plans to redesign the $1 or $2 bills.

Experimental issues[edit]

Main article: Web notes

Since 1933, the one-dollar bill has been the exclusive experimental denomination among circulating US currency (except for the Natick experiment in 1981, see below). The first experiment was conducted in January and February of that year to assess the effects of using different ratios of cotton to linen in the make-up of the bills. Series 1928A and 1928B $1 silver certificates with serial number block letters X-B and Y-B were used as the experimental group; the Z-B block was used as the control group. The results of the experiment were inconclusive.

In 1937, another test was conducted, similar in style to the 1933 experiment. This test used Series 1935 one-dollar bills. The particular notes used in this experiment can be identified by their serial numbers. Notes ranging from A00000001B to A06180000B and B00000001B–B03300000B were the experimental group and notes ranging from C00000001B to C03300000B were part of the control group. No conclusive results were found.

A better known test was done in 1942 during World War II to test alternative types of paper. This was a precautionary measure in case the current type of paper supply could not be maintained. Series 1935A notes made of the special paper and were printed with a red "S" to the right of the treasury seal, while notes of the control group were printed with a red R. Because they have some collector value, fake red S's and R's have been applied to regular Series 1935A notes to try to pass them at a higher value; checking a note's serial numbers can prevent this. Serial numbers of the R group range from S70884001C to S72068000C and serial numbers of the S group range from S73884001C to S75068000C.

Sometime in the early to mid-1960s, the BEP experimented with a new firm, the Gilbert Paper Company, to see if they could duplicate the usual paper production.[23] The BEP selected a series of notes printed by the Philadelphia FRB as the test subjects. Serial numbers for this group range from C60800001A to C61440000A.

In August 1981, a similar experiment occurred during production of Series 1977A, when the BEP the giving keys inc a few print runs on Natick paper. They included a regular run and a star note run from the Richmond FRB, with serial numbers ranging from E76800001H through E80640000H and E07052001* through E07680000* (note that many sources incorrectly identify the star range as Philadelphia instead of Richmond). One print run of $10 star notes, also from Richmond, was included in this paper test, making it so far the only experimental printing not exclusive to the $1.

One-dollar bills were again the subject of experimentation in May 1992, when the BEP began to test a web-fedIntaglio printing press. Because of a need for greater quantities of $1 FRNs, the BEP sent out REQUEST FOR PROPOSALS (RFP) (year 1985) NO. BEP-85-73 to procure a web-fed intaglio printing press to dramatically increase the production of currency notes within the confines of their current (1985) 14th & C street facility. Instead of printing one side of a square sheet of 32 notes at a time, the web-fed press used 96 engraved images or plate-cylinder to print the back of the note, then another 96 image engraved plate-cylinder to print the front of the note. Both sides of notes were printed from a continuous roll of paper. The Alexander-Hamilton intaglio Web press printed both sides of intaglio at the same time. The web-press was designed as a full-blown production press as opposed to an experimental press. The notes were issued in Series 1988A, 1993, and 1995. Because of mechanical problems and operator error, as well as the sometimes poor quality of the notes, production was ended in July 1996. Web notes can be identified by the back plate number next to IN GOD WE TRUST and the removal of face check letters and quadrant numbers.[24]

Series dates[edit]

Small size[edit]

Type Series TreasurerSecretarySeal
Legal Tender Note1928 WoodsWoodinRed
Silver Certificate1928 TateMellonBlue
Silver Certificate 1928A WoodsMellonBlue
Silver Certificate 1928B WoodsMillsBlue
Silver Certificate 1928C WoodsWoodinBlue
Silver Certificate 1928D JulianWoodinBlue
Silver Certificate 1928E JulianMorgenthauBlue
Silver Certificate 1934 JulianMorgenthauBlue
Silver Certificate 1935 JulianMorgenthauBlue
Silver Certificate 1935A JulianMorgenthauBlue
Silver Certificate 1935A Hawaii JulianMorgenthauBrown
Silver Certificate 1935A North Africa JulianMorgenthauYellow
Silver Certificate 1935B JulianVinsonBlue
Silver Certificate 1935C JulianSnyderBlue
Silver Certificate 1935D ClarkSnyderBlue
Silver Certificate 1935E PriestHumphreyBlue
Silver Certificate 1935F PriestAndersonBlue
Silver Certificate 1935G SmithDillonBlue
Silver Certificate 1935G Motto SmithDillonBlue
Silver Certificate 1935H GranahanDillonBlue
Silver Certificate 1957 PriestAndersonBlue
Silver Certificate 1957A SmithDillonBlue
Silver Certificate 1957B GranahanDillonBlue
Federal Reserve Note1963 GranahanDillonGreen
Federal Reserve Note 1963A GranahanFowlerGreen
Federal Reserve Note 1963B GranahanBarrGreen
Federal Reserve Note 1969 ElstonKennedyGreen
Federal Reserve Note 1969A KabisKennedyGreen
Federal Reserve Note 1969B KabisConnallyGreen
Federal Reserve Note 1969C BañuelosConnallyGreen
Federal Reserve Note 1969D BañuelosShultzGreen
Federal Reserve Note 1974 NeffSimonGreen
Federal Reserve Note 1977 MortonBlumenthalGreen
Federal Reserve Note 1977A MortonMillerGreen
Federal Reserve Note 1981 BuchananReganGreen
Federal Reserve Note 1981A OrtegaReganGreen
Federal Reserve Note 1985 OrtegaBakerGreen
Federal Reserve Note 1988 OrtegaBradyGreen
Federal Reserve Note 1988A VillalpandoBradyGreen
Federal Reserve Note 1993 WithrowBentsenGreen
Federal Reserve Note 1995 WithrowRubinGreen
Federal Reserve Note 1999 WithrowSummersGreen
Federal Reserve Note 2001 MarinO'NeillGreen
Federal Reserve Note 2003 MarinSnowGreen
Federal Reserve Note 2003A CabralSnowGreen
Federal Reserve Note 2006 CabralPaulsonGreen
Federal Reserve Note 2009 RiosGeithnerGreen
Federal Reserve Note 2013 RiosLewGreen
Federal Reserve Note 2017 CarranzaMnuchinGreen
Federal Reserve Note 2017A CarranzaMnuchinGreen

Obverse of current $1 bill[edit]

Comparison between Gilbert Stuart's 1796 Athenaeum Portraitand the image on the obverse of the bill. The image from the dollar bill above shows the subject flipped horizontally for ease of comparison.

The portrait of George Washington is displayed in the center of the obverse of the one-dollar bill, as it has been since the 1869 design. The oval containing George Washington is propped up by bunches of bay laurel leaves.[citation needed]

To the left of George Washington is the Federal Reserve District seal. The name of the Federal Reserve Bank that issued the note encircles a capital letter (A–L), identifying it among the twelve Federal Reserve Banks. The sequential number of the bank (1: A, 2: B, etc.) is also displayed in the four corners of the open space on the bill. Until the redesign of the higher denominations of currency beginning in 1996, this seal was found on all denominations of Federal Reserve notes. Since then it is only present on the $1 and $2 notes, with the higher denominations only displaying a universal Federal Reserve System seal, and the bank letter and number beneath the upper left serial number.

To the right of George Washington is the Treasury Department seal. The scales represent justice. The chevron with thirteen stars represents the original thirteen colonies. The key below the chevron represents authority and trust; 1789 is the year that the Department of the Treasury was established. The series 1969 dollar bills were the first to use a simplified Treasury seal, with the wording in English instead of Latin.

Below the FRB seal (to the left of George Washington) is the signature of the Treasurer of the United States, and below the USDT Seal (right side) is the Secretary of the Treasury's signature. To the left of the Secretary's signature is the series date. A new series date, or addition or change of a sequential letter under a date, results from a change in the Secretary of the Treasury, the Treasurer of the United States, and/or a change to the note's appearance such as a new currency design.

On the edges are olive branches entwined around the 1s. A small plate serial number-letter combination is on the lower right, and a small plate position (check) letter is on the upper left corner of the note. If "FW" appears before the lower right plate number it indicates that the bill was produced at the satellite Bureau of Engraving and Printing facility in Fort Worth, Texas. Currency has been printed here since Series 1988A. The absence of "FW" indicates the bill was printed at the main facility in Washington, D.C.

Reverse of current $1 bill[edit]

President Franklin Roosevelt's conditional approval of the one-dollar bill's design in 1935, requiring that the appearance of the sides of the Great Sealbe reversed, and together, captioned.

The reverse of the one-dollar bill has an ornate design that incorporates both sides of the Great Seal of the United States to the left and right of the word ONE. This word appears prominently in the white space at the center of the bill in a capitalized, shadowed, and seriffed typeface. A smaller image of the word "ONE" is superimposed over the numeral "1" in each of the four corners of the bill.

"THE UNITED STATES OF AMERICA" spans the top of the bill, "ONE DOLLAR" is emblazoned along the bottom, and above the central "ONE" are the words "IN GOD WE TRUST," which became the official motto of the United States in 1956 by an Act of Congress. Below the reverse of the Great Seal on the left side of the bill are the words "THE GREAT SEAL," and below the obverse on the right side are the words "OF THE UNITED STATES."

The Great Seal, originally designed in 1782 and added to the dollar bill's design in 1935, is surrounded by an elaborate floral design. The renderings used were the typical official government versions used since the 1880s.

The reverse of the seal on the left features a barren landscape dominated by an unfinished pyramid of 13 steps, topped by the Eye of Providence within a triangle. At the base of the pyramid are engraved the Roman numerals MDCCLXXVI (1776), the date of American independence from Britain. At the top of the seal stands a Latin phrase, "ANNUIT COEPTIS," meaning "He favors our undertaking." At the bottom of the seal is a semicircular banner proclaiming "NOVUS ORDO SECLORUM" meaning "New Order of the Ages" that is a reference to the new American era. To the left of this seal, a string of 13 pearls extends toward the edge of the bill.

The obverse of the seal on the right features a bald eagle, the national bird and symbol of the United States. Above the eagle is a radiant cluster of 13 stars arranged in a six-pointed star. The eagle's breast is covered by a heraldic shield with 13 stripes that resemble those on the American flag. As on the first US flag, the stars and stripes stand for the 13 original states bank of north america 1862 one dollar the union. The eagle holds a ribbon in its beak reading "E PLURIBUS UNUM", a Latin phrase meaning "Out of many [states], one [nation]", a de facto motto of the United States (and the only one until 1956). Both the phrases "E Pluribus Unum" and "Annuit coeptis" contain 13 letters. In its left talons the eagle holds 13 arrows, and in its right talons it holds an olive branch with 13 leaves and 13 olives, representing, respectively, the powers of war and peace. To the right of this seal, a string of 13 pearls extends toward the edge of the bill. A plate position (check) number is normally found to the left of the eagle.

Collecting Federal Reserve dollar bills[edit]

Except for significant errors, and series 1988A web notes printed in small batches for some of the Federal Reserve districts (web notes from other series are more common), green seal dollars are of little collector value. However, two notes have generated public interest, although neither is scarce.

In 1963 dollar bills were produced for the Eleventh Federal Reserve District, headquartered in Dallas. Since the FRD jurisdictions are sequentially numbered, notes received the corresponding letter "K", for the 11th letter of the alphabet. Some people noticed that the 1963 Dallas note, with the number "11" and a "K" surrounded by a black seal, appeared about the time President John F. Kennedy was shot in Dallas in November 1963. The bill was not a commemorative issue and there was no connection between it and the shooting.[25]

In 1968–69 Joseph W. Barr was Secretary of the Treasury for only 31 days and his signature appeared solely on the 1963B dollar bill. Some collectors thought that his brief tenure might make these notes valuable, but use of their plates continued for some time after his term in office and 458,880,000 were printed. Thus they are very common.[26]

Dollar Bills with interesting serial numbers can also be collected. One example of this is radar or “palindrome“ notes, where the numbers in the serial number are the same read from left to right or right to left. Very low serial numbers, or a long block of the same or repeating digits may also be of interest to specialists. Another example is replacement notes, which have a star to the right of the serial number. The star designates that there was a printing error on one or more of the bills, and it has been replaced by one from a run specifically printed and numbered to be replacements.[27] Star notes may have some additional value depending on their condition, their year series or if they have an unusual serial number sequence. To determine the rarity of modern star notes, production tables are maintained.[28]

Prosecution for the possession of a $1 bill[edit]

In Turkey the possession of a one-dollar bill can lead to a prosecution and sentence for terror related charges because it is seen as evidence for being a member of the Gülen Movement founded by Fethullah Gülen, which is seen as a terror organization in Turkey. Turkish authorities believe that Gülen used to present a one dollar bill to his followers and that they showed it to one another in order to make them recognizable.[29][30][31]

Redesign or replacement of the dollar bill[edit]

GAOestimated 30-year present-value cost of replacing $1 notes with $1 coins

See also: Dollar coin (United States) § Popularity

In modern times, the one dollar bill is used much more than the dollar coin, despite the U.S. Government's repeated efforts to promote the latter.[32] There are organizations specifically aimed at either preventing (Save the Greenback)[33] or advocating (Coin Coalition)[34][35] the complete elimination of the one-dollar bill in favor of the dollar coin.

On November 29, 2012, a House subcommittee met to consider replacing the dollar bill. This action took place after the seventh Government Accountability Office report on the subject. The latest report claimed that switching to dollar coins would save $4.4 billion over thirty years. However, according to polls, few Americans want to give up dollar bills.[36]

In response to various requests to redesign the $1 bill to include (among others) the Preamble, Bill of Rights, and list of Articles of the United States Constitution,[37] recent budgets passed by Congress have included provisions to prevent the Treasury Department from spending any of its funds to redesign the $1 bill, since the potential cost impact of this change on the vending machine industry would greatly exceed its benefits.[38]

See also[edit]

References[edit]

  1. ^"Currency Facts". uscurrency.gov. U.S. Currency Education Program. Retrieved July 15, 2020.
  2. ^"How Money is Made - Paper and Ink". Bureau of Engraving and Printing. U.S. Dept. of the Treasury. Retrieved May 17, 2020.
  3. ^69 Stat. 290
  4. ^"How long is the life span of U.S. paper money?". U.S. Federal Reserve. Retrieved May 17, 2020.
  5. ^"1$ Note". Bureau of Engraving and Printing. Archived from the original on February 16, 2013.
  6. ^"Currency in Circulation: Volume". The Federal Reserve. August 1, 2020.
  7. ^"Salmon P. Chase". Tulane University. Archived from the original on December 31, 2006.
  8. ^"Series of 1928 One Dollar Red Seal United States Note – Values and Pricing". OldCurrencyValues.com. Retrieved January 14, 2018.
  9. ^"Silver Purchase Act of 1934 (United States)". Encyclopedia of Money. Retrieved January 14, 2018.
  10. ^"The History of the One Dollar Bill". Onedollarbill.org.
  11. ^"Series 1988A $1 By Groups". USPaperMoney.info.
  12. ^"The Gilbert Paper Co $1 Federal Reserve Notes, Series 1963". The E-Sylum. The Numismatic Bibliomania Society. 15 (22). May 27, 2012. Retrieved January 14, 2018.
  13. ^"Web Notes". USPaperMoney.info. Retrieved May 17, 2020.
  14. ^"Kennedy bills have eerie connection with his assassination". WNDU-TV. November 22, 2013. Bank of north america 1862 one dollar January 14, 2018.
  15. ^Meehan, Brendan (April 11, 2012). "Rare or Not Rare: The 1963-B $1 Dollar Barr Note". USA Paper Money Auction.
  16. ^"Why do some U.S. bills have a star instead of a letter at the end of the serial number?". Howstuffworks.com. Retrieved May 22, 2019.
  17. ^"$1 Star Note Production Tables". My Currency Collection.
  18. ^Wray, Dianna (August 1, 2017). "Over a Single Dollar Bill, a NASA Scientist Remains Trapped in a Turkish Prison". Houston Press. Retrieved March 28, 2019.
  19. ^Bozkurt, Abdullah (February 4, 2019). "Turkey's war on the US one dollar bill to justify persecution of its critics". Nordic Monitor. Retrieved March 28, 2019.
  20. ^Snell, Lindsey (March 25, 2017). "How Did a NASA Scientist Get in Turkish Prison?". The Daily Beast. Retrieved March 28, 2019.
  21. ^Anderson, Gordon T. (April 25, 2005). "Congress tries again for a dollar coin". CNN Money. Retrieved June 26, 2012.
  22. ^"Is U.S. Ready to See the Dollar Bill Pass?". Los Angeles Times. June 12, 1995. p. 4.
  23. ^Barro, Robert J.; Stevenson, Betsey (November 6, 1997). "Do You Want That In Paper, or Metal?". The Wall Street Journal. Archived from the original on December 31, 2004.
  24. ^Lobb, Annelena (April 11, 2002). "Should the penny go?". CNN Money.
  25. ^Straw, Joseph; Lysiak, Matthew; Murray, Rheana (November 30, 2012). "Congress considers getting rid of dollar bills for $1 coins to save money". New York Daily News. Retrieved January 7, 2013.
  26. ^https://www.govinfo.gov/content/pkg/BILLS-105s2053is/html/BILLS-105s2053is.htm
  27. ^"One Is the Loneliest Dollar Bill". National Journal. January 28, 2014.

Bibliography[edit]

  • Friedberg, Arthur L.; Friedberg, Ira S. (2005). The Official Red Book: A Guide Book of United States Paper Money. Introduction and narrative by Q. David Bowers. Atlanta, GA: Whitman Publishing. ISBN .
  • Hudgeons, Marc; Hudgeons, Tom (2006). Blackbook Price Guide to United States Paper Money (38th ed.). New York City: House of Collectibles. ISBN .
  • Krause, Chester L.; Lemke, Robert F. (1998). White, Robert (ed.). Standard Catalog of United States Paper Money (17th ed.). Iola, WI: Krause Publications. ISBN .
  • Schwartz, John; Lindquist, Scott (2011). Bradley, Debbie (ed.). Standard Guide to Small Size U.S. Paper Money : 1928 to date (10th ed.). Iola, WI: Krause Publications. ISBN .

External links[edit]

Источник: https://en.wikipedia.org/wiki/United_States_one-dollar_bill

To pay for the war, the Confederate government issued a vast array of paper currencies -- at least seventy different types of currency, totaling more than 1.5 billion dollars, an incredible sum at that time. Making things even more confusing, state governments issued their own currencies -- as did banks, insurance companies, and businesses.


None of this paper money could be redeemed, or traded for, gold or silver -- as was common in the early nineteenth century. The Confederate government had no gold or silver to make coins. Instead, Confederate paper money was like a loan -- a promissory note or promise to pay at a later time. At the start of the war, when southerners expected to win the war, they were willing to trust that their paper dollars would continue to hold value. But as the South started to slide towards defeat, they lost faith in not only their chances of victory but their money as well.


Meanwhile, as governments struggled to meet expenses by printing more and more money, paper money had accumulated far beyond the value of the goods available to be bought. The Confederate army took men from productive farms and jobs and demanded tremendous resources to feed and clothe its troops. The Union blockade meant that importing goods from Europe was nearly impossible. Too much money, a lack of goods to buy, and a lack of faith in paper money resulted in rampant inflation -- rapidly rising prices of goods. Between late 1862 and early 1865, the price of wheat in North Carolina rose 1700 percent (17 times). The price of bacon rose 2500 percent, and the price of flour rose 2800 percent. By 1865, a bank of north america 1862 one dollar of shoes cost as much as $600.


As we'll see later in this chapter, inflation made it difficult for some North Carolinians even to feed themselves. Surviving on the home front became almost as difficult as surviving in battle.


North Carolina currency


Below are some examples of paper money printed by the State North Carolina during the Civil War, all from the North Carolina Collection of UNC Libraries, and are available online through Documenting the American South.


The drawings and symbols on the money say a great deal about how southerners wanted to think of themselves and their new nation. As you look at each piece of currency, think about why the symbols were chosen.


1861
one-dollar note, 1861

This one-dollar note, dated October 12, 1861, is printed on plain paper. Like most North Carolina currency, its reverse had no design but simply said "one dollar." The figure at left is Minerva, the Roman goddess of wisdom, who appeared frequently on paper money at the time.


1862
ten-cent note, 1862

During the war, North Carolina issued paper money in denominations as small as five cents. This ten-cent note shows a well-clothed slave plowing a field.


ten-dollar note, 1861

Trains symbolized progress and prosperity, and they appeared on the currency of several states.


1863
ten-cent note, 1863

Fractional currencies -- that is, notes worth less than a dollar -- became impractical as prices skyrocketed later in the war. Literal handfuls of them were required to buy anything! The hornet’s nest on this 10-cent note symbolized defiance.


75 cent note, 1863

Unlike hornets, bees symbolized hard work (the "busy bee") as well as a united, single-minded society. The female figure represents commerce, and she is surrounded by the rewards of commercial enterprise.


two-dollar note, 1863

This two-dollar bill depicted the state capitol in Raleigh. Note that it says "Will pay two dollars to bearer at the Treasury on or before 1st Jan. 1866" -- paper money was, supposedly, redeemable in gold or silver, which was the only "real" money at the time.


five-dollar note, 1863

The female figure on this five-dollar bill is probably Minerva, and the steamship (note the wheel on its side) suggests industry and commerce.


1864
25-cent note, 1862

This 25-cent note shows Ceres, the Roman goddess of agriculture -- the centerpiece, of course, of the Southern economy. You might be surprised to see how Ceres is dressed! This kind of pose was a reminder of the Revolutionary era, when artists used Greek and Roman themes to portray classical virtues. By looking back to the American Revolution, the newly independent South tried to invoke its spirit (and its success).


By this point in the war, though, success was looking increasingly less likely for the South. This note, printed in January 1864, was part of the last issue of currency by the state government.

Источник: https://www.ncpedia.org/anchor/paper-money-civil-war

5 Replies to “Bank of north america 1862 one dollar”

  1. I added my card, but it won't let me transfer to it for whatever reason. When I add the card when in the transfer process, it says a card is already added.

Leave a Reply

Your email address will not be published. Required fields are marked *