The dollar of the American Confederation was first issued just before the outbreak of the American Civil War by the newly formed Confederation. It is not supported by hard assets, but only with the promise to pay carriers after the war, on the prospect of victory of the South and of independence.
As the war begins to tilt up against the Confederacy, confidence in the currency diminishes, and the government increases the currency by continuing to print the notes that have not been returned. By the end of 1863, the Confederate dollar (or "Greyback", to distinguish it from the new US dollar "Greenback" paper, which was also put into circulation during the war) was quoted just six cents in gold, and fell further.
Greyback is now a valuable collection of items, in many versions, including those issued by individual countries and local banks. Confederations, gods, goddesses and scenes of prominent slave life, on this fast-printed banknote, sometimes cut with scissors and signed by scribes, continue to stimulate debate among antiquarian merchants, even with some false notices commanding high price.
Video Confederate States dollar
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The Confederate Dollar, often called "Greyback", was first published in April 1861, when the Confederation was only two months old, and on the eve of the Civil War.
Initially, the Confederate currency was accepted throughout the South as a medium of exchange with high purchasing power. However, as the war progresses, the belief in final success diminishes, the number of banknotes increases, and the date of their redemption extended further into the future. Most Confederate currencies carry the phrase at the top of the bill: "SIX MONTHS AFTER THE RATIFICATION OF PEACE PEACE BETWEEN CONFERENCE AND UNITED STATES" then in the middle, " AMERICAN COUNTRIES WILL PAY [billing amount] FOR BEARER "(or" small "... WILL PAY FOR BEARERS [amount of bills]" or "... WILL PAY ADD ON REQUEST [amount of bills] ").
As the war progresses, currencies are depreciated and soaring prices of characteristics of inflation. For example, at the end of the war, soap cakes can be sold for $ 50 and regular clothes are $ 2,700.
Toward the end of the war, the practical currency became worthless as a medium of exchange. This is because the Confederate currency is a credit bill, as in the Revolutionary War, not guaranteed or supported by any asset. Just as the currency issued by the Continental Congress is deemed worthless (watching the phrase "not worthy of Continental;" and see The Federalist Papers , which also addresses this issue in the ratification of the US Constitution) because they are not backed by assets hard, so, this also applies to Confederate currency. Although gold and silver may be scarce, some economic historians have suggested that the currency will still have relatively material value, and for longer periods of time, if it is supported by hard goods owned by Confederates, probably like cotton, or tobacco. When the Confederacy ceased to exist as a political entity at the end of the war, money lost all its value as a fiat currency.
Maps Confederate States dollar
Design
Confederations, limited in sculptors and skilled printers and secure printing facilities, often have to settle for unrelated designs in the early banknote issue. Some of them are abstract depictions of mythological gods and goddesses, such as the Goddess of Freedom. The Confederation theme applies to the design of black slaves, navy ships and historical figures, including George Washington. Slave images often portray them as carriers of their work.
Since most engravers and bank plates are in the northern states, Confederate printers must be lifted by offset or lithographic scenes that have been used on whatever records they can access. Many variations in plates, printing and paper also appear in most problems, largely due to trade restrictions resulting from the Union embargo of the Confederate port.
Some of the people featured on paper money include Andrew Jackson, John C. Calhoun, Christopher Memminger, Robert MT Hunter, Alexander H. Stephens, Jefferson Davis, Judah P. Benjamin, Clement Clay, George W. Randolph, and Lucy Holcombe Pickens, wife Governor of South Carolina. There is also a bill showing George Washington.
Signature
Confederation Treasury notes were signed by various scribes, with the exception of 50 per cent issues that have the signature prints of Robert Tyler and Edward C. Elmore. The first six records published are hands signed by the Register and the Treasurer himself. While signatures are considered an anti-counterfeiting tool, the resulting bill count can not be individually signed by two people each. Women are often hired as employees to sign "for List" and "for Treasurer"; up to 200 employees were eventually hired for each.
Coinage
As the Civil War continued, the cost of the war seemed overwhelming. Any noble metal available in the South is often brought to Europe to obtain war goods. But CSA managed to print some coins. In 1861, Mr. Robert Lovett Jr. from Philadelphia was assigned to design, carve, and make a penny for the Confederacy. On the front (front), he uses the head of Minerva (Head of Liberty France), which he has used on some store cards. The coins were struck using Federal Cupronickel standard for cent piece. He made several samples, of which only 12 are said to exist by popular stories but research has shown that 14 are currently known to exist. Fearing demands to help the enemy, he stopped his work and hid the coins and died in his basement. The original dead were purchased later and used to make restrictions, first by John W. Haseltine and then by Robert S. Bashlow. The dies were donated to the Smithsonian Institution by Bashlow in 1962.
In the aftermath of secession, the Confederacy seized the US Mint facility in Charlotte, North Carolina, Dahlonega, Georgia, and New Orleans, Louisiana. After seizing and utilizing the gold reserves stored in the facility, the Confederation Treasury, led by C. G. Memminger, determined that the cost of printing coins far outweighed its benefits. The spectrum in circulation will barely exist in the Confederate throughout the whole war. A variety of local tokens and tokens will try to fill this void, to be of little use.
By the end of April 1861, a four-and-a-half-dollar Confederate was beaten in a press release by certain employees of the New Orleans Mint. Due to the massive assistance of dead coins, a striking test was conducted to see if the coins would be detached from the Confederate's death. The dice is made by a printing plate engraver (A.H.M. Peterson) in New Orleans who is unfamiliar with the techniques required to carve coining dies. These coins are struck with a US outer die (Seated Liberty) and a Confederation made by Peterson. These coins are known as original , and the location of all four coins is known today.
As a result of an 1879 article on percent Confederations printed in New York City newspaper, Benjamin F. Taylor, M.D (Chief Coiner, New Orleans Mint, CSA) contacts Ebenezer Mason coin dealers. Taylor informs Mason of the existence of a half dollar Confederacy and death. Mason bought the dice and coins from Taylor and sold them to J.W. Scott Co. from New York City, coin dealers and seals. Scott bought 500 $ 1861 dollars half a dollar from a New York bank that was allegedly beaten in the New Orleans Mint. Scott has the opposite of a planned half-dollar and a unilateral strike using a half dollar Confederate. The edge of freedom Seated from the coins was leveled in part by a one-sided strike. In addition, Scott hit a 500-dollar token in white with a newly created Konfederate die and die to commemorate the Confederate half-dollar restriction. The half-dollar Confederate died lost during the 1920s and has not been seen since.
Popular stories claim one of the Confederate half dollars awarded to Confederate President Jefferson Davis. This story has no basis in fact. In a letter of 1879 to Ebenezer Mason, Davis confirmed that a Union soldier (actually a Federal Officer) steals a coin from one of his wife's trunks, but can not confirm that it is as known to the known Confederate half dollar. It is likely that the coin was a gold called Jefferson Davis dime struck in Paris (France) Mint, which Davis explained to the Ed Frossard coin dealer in a letter in 1880. All Jefferson Davis dimes beaten silver in the Paris Mint. The Davis letter is the only known reference to the gold specimen, which is probably a special presentation piece made for Davis.
Banknote
Confederation Treasury Notes (banknotes) are finally issued in fractions of 50 cents, $ 1, $ 2, $ 5, $ 10, $ 20, $ 50, $ 100, $ 500, and $ 1,000 with various designs, publishers, and liabilities can be redeemed. The amount of currency spent under various Confederate Congress actions amounts to $ 1.7 billion. The bill was released in 72 different "type" notes in seven "series" from 1861 to 1864.
Because there are many types of Confederate records and records issued by Confederate countries, and because banks can issue their own records, counterfeiting is a major problem for Confederations. Much of this contemporary forgery can be identified today and they can be as valuable as a collector as a real note.
Source of the article : Wikipedia
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