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Demand Notes are no longer found in circulation, but are instead in the hands of collectors. Of the surviving Demand Notes, the vast majority are $5 and $10 notes with "For the" engraved on them and from the locations of New York, Boston, and Philadelphia. No notes are known with the actual signatures of F. E. Spinner and L. E. Chittenden.
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 ...
Small size notes were only made in denominations of $1, $5 and $10. The small notes were made with a blue seal, except for notes made as an emergency issue for American soldiers in North Africa during World War II, which were made with a yellow seal, as well as a $1 note made for use only in Hawaii during World War II, which had a brown seal.
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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A specimen demand draft. A demand draft (DD) is a negotiable instrument similar to a bill of exchange. A bank issues a demand draft to a client (drawer), directing another bank (drawee) or one of its own branches to pay a certain sum to the specified party (payee). [1] [2] A demand draft can also be compared to a cheque. However, demand drafts ...
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