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Currency

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									   Currency
Civil War 1861-1865
               Currency Types
• Metal coins of gold,
  silver, and copper
  disappeared once the
  war started.
• The value of metal
  increased in value.
• Where did all the metal
  go?
              Paper Currency
• Original paper money
  was created during
  American Revolution.
 Distrusted and
  worthless
• 4 Types
 Private Issue
 Shinplasters
 Postage Stamps
 Federal Issue
                  Private Issue
• States, railroads, roads,
  utilities, manufacturers,
  businesses, and banks
  issued currency notes.
• Bank notes were the
  most reliable-like a
  check
• Used for payment at that
  business.
                 Shinplasters
• Businesses issued these
  as promissory notes.
• They could only be used
  at the business.
              Postage Stamps
• More widely used than
  Shinplasters.
• Originally had sticky
  backing.
• Came in perforated
  sheets
                 Federal Notes
• Originally used for
  transfers between banks
• 1862 was the first series
  of notes.
• Nicknamed
  “Greenbacks” for the
  intricate green design
  printed on the back.
         How Much Did It Cost?

                 Price in 1862   Price in 1865   Price in 2011



Bacon   Pack          $0.33             $7.50            $4.21



Eggs    Dozen         $0.35             $5.00            $2.65



Corn    Bushel        $1.00            $30.00            $3.00

								
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