The Story of Money: 12--Many Notes, Much Chaos

Section 12: U.S. banks and money Previous | Next | Section Index
With no central control, there were many notes and much chaos
From 1836 to 1861 many types of notes appeared, all with different designs, colors, and sizes. Most were worth their face value, but some were worth little or nothing. City, county, and state governments, insurance companies, and even railroad lines issued notes during financial panics.
Mississippi and Alabama Railroad Company note
Mississippi and Alabama Railroad Company
1838
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