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A Demand Note is a type of United States paper money that was issued from August 1861 to April 1862 during the American Civil War in denominations of 5, 10, and 20 US$. Demand Notes were the first issue of paper money by the United States that achieved wide circulation.
A 1926 promissory note from the Imperial Bank of India, Rangoon, Burma for 20,000 rupees plus interest. A promissory note, sometimes referred to as a note payable, is a legal instrument (more particularly, a financing instrument and a debt instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee), [1] subject to any ...
1861 $10 demand note depicting Abraham Lincoln. Demand Notes are a type of United States paper money issued from August 1861 to April 1862 during the American Civil War in denominations of 5, 10, and 20 US$. They were the first issue of paper money by the United States that achieved wide circulation.
A banknote or bank note [1] – also called a bill (North American English) or simply a note – is a type of paper money that is made and distributed ("issued") by a bank of issue, payable to the bearer on demand.
The Demand Notes had been issued in denominations of $5, $10, and $20, and these were replaced by United States Notes nearly identical in appearance on the obverse. In addition, notes of entirely new design were introduced in denominations of $50, $100, $500 and $1,000. The Demand Notes' printed promise of payment "On Demand" was removed and ...
By mid-summer of 1862, Demand Notes were available for an 8% premium over United States Notes. Newspapers were reporting on the falling amount of Demand Notes still left in circulation. By December it was estimated that the supply would soon be exhausted and that importers would have no option but gold for paying import duties. [ 7 ]
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