Kentucky Derby Cavalier.
First Sergeant
- Joined
- Oct 24, 2019
I read that there were attempts to flood the South with fake currency? How effective was this? Did it seriously hurt the South?
Lol, yes I remember hearing this.One story is that Union counterfeits were identifiable because they were of better quality than the actual Confederate notes!
Interesting to note that Salmon P. Chase, who as Secretary of the Treasury was given the responsibility for designing the new one dollar bill, cheerfully adorned it with his own picture.The first Greenback did not appear until August 1862. Money and currency in US included an ever decreasing supply of silver as bad money, such as scrip, fractional currency, tokens, etc drove away good money (silver and gold). It is a fascinating subject.
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