Texas and Confederate Currency

[USS ALASKA]

Found this quote in a book I'm currently reading...

"Incidentally, Texas never accepted the Confederate currency but remained on specie throughout the Civil War."

Was wondering if this was factual and if so, why? Was Texas just too far away to get meaningful amounts of Confederate money there to complete transactions or was there another reason?

Thanks for the help,
USS ALASKA

 

[Larryh86GT]

Good question. Possibly gold coins were prefered. Eagles, double eagles?

 

[Carronade]

Foreign coins, particularly the Spanish silver dollar, were legal tender in the United States until the Coinage Act of 1857; perhaps some of those were still in circulation in areas like Texas? I imagine there was also a fair amount of interaction with Mexico regardless of political situations.

 

[DaveBrt]

Found this quote in a book I'm currently reading...

"Incidentally, Texas never accepted the Confederate currency but remained on specie throughout the Civil War."

Was wondering if this was factual and if so, why? Was Texas just too far away to get meaningful amounts of Confederate money there to complete transactions or was there another reason?

Thanks for the help,
USS ALASKA

Your author is smoking something. I've seen many request for funds from TM Quartermasters and a couple of letters regarding men carrying currency to the TM. Does the author really think the CSA had the specie to pay all their bills and wages in Texas? Regardless of what the state government did or did not enact as law, Confederate currency had to have been used extensively.

 

[USS ALASKA]

Your author is smoking something.

...take my black Sharpie and line through that passage...

Cheers,
USS ALASKA

 

[leftyhunter]

Foreign coins, particularly the Spanish silver dollar, were legal tender in the United States until the Coinage Act of 1857; perhaps some of those were still in circulation in areas like Texas? I imagine there was also a fair amount of interaction with Mexico regardless of political situations.

Was Mexican currency widely used in Texas? Possibly not since Mexico at the time was in serious turmoil due to its civil conflicts and being invaded. Possibly French currency from French troops just across the border?
Leftyhunter

 

[Copperhead-mi]

Found this quote in a book I'm currently reading...

"Incidentally, Texas never accepted the Confederate currency but remained on specie throughout the Civil War."

Was wondering if this was factual and if so, why? Was Texas just too far away to get meaningful amounts of Confederate money there to complete transactions or was there another reason?

Thanks for the help,
USS ALASKA

The following article on JSTOR (must have or open a free account to view article) shows that the State of Texas definitely used Confederate currency and bonds for expenditures and receipts, allowing state income and property taxes to be paid with Confederate currency adjusted for inflation.
The State Finances of Texas during the Civil War
https://www.jstor.org/stable/30242999?seq=1#page_scan_tab_contents