Search results
Results From The WOW.Com Content Network
The Legal Tender Cases primarily involved the constitutionality of the Legal Tender Act of 1862, 12 Stat. 345, enacted during the American Civil War. [1] The paper money depreciated in terms of gold and became the subject of controversy, particularly because debts contracted earlier could be paid in this cheaper currency. [2]
Before the Civil War, the United States used gold and silver coins as its official currency. Paper currency in the form of banknotes was issued by privately owned banks, the notes being redeemable for specie at the bank's office. Such notes had value only if the bank could be counted on to redeem them; if a bank failed, its notes became worthless.
Knox v. Lee, 79 U.S. (12 Wall.) 457 (1871), was an important case for its time in which the Supreme Court of the United States overruled Hepburn v. Griswold. [1] In Knox v.. Lee, the Court held that making paper money legal tender through the Legal Tender Act did not conflict with Article I of the United States Constitut
Bidders will fight with their dollars next week at an Ohio auction house for the sword of the Civil War Union general who led a scorched-earth campaign across Georgia and coined the phrase “War ...
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.
Ohio Civil War Genealogy Journal (2009) 13#2 pp 73–78, Letters between a Catholic army chaplain and his bishop. Hall, Susan, Appalachian Ohio and the Civil War, 1862–1863. (McFarland & Co., 2000). ISBN 0-7864-0866-9. Harper, Robert S., Ohio Handbook of the Civil War. Columbus, Ohio: The Ohio Historical Society, 1961. Harper, Robert S.
As the Civil War progressed and victory for the South seemed less and less likely, its value declined. After the Confederacy's defeat, its money had no value, and individuals and banks lost large sums. The first series of Confederate paper money, issued in March 1861, bore interest and had a total circulation of $1,000,000. [1]
Two soldiers from Ohio regiments who participated in a Civil War locomotive chase were finally awarded the Medal of Honor.