Indian chieftain. [volume] (Vinita, Indian Territory [Okla.]) 1882-1902, 1891-06-25

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i Our attention has been called several
times rocently 10 opinions Of the writer's
concerning tho amount Of paper money
which was issued by the government
during the war period, and how much
} fit was afterward withdrawn and de-
stroyed. In the beginning OF the war,
under the act Of Augustl7, 1861, $780,
900, 900 treasury notes were issued, pay
able on demand. The amount Of this
issue was increased the following Feb
ruary 100000 These were known
as demand notes and they have never
been classed with what we commonly
call greenbaclzs BY the act Of Febru-
airy % 1862, an issue of Sl50, 0O0,O 900 in
United States notes was authorized,
$50, 900, 900 OF which were TO DO In lieu
OF the demand notes which had been is
sued under the act OF July II, 1881,
leaving really but 8l00 600 coo with the
10000, 600 additional authorized by the
act OF February ", 1882 Under the act
OF March 3, 1863 another issue oi Unit
cd States notes amounting to $3.50, 000,-
600 was authorized, and further issue
OF Sl50 600 900 il II should prove 10 be
necessary for the payment Of the army
and the navy and other creditors Of the
government. The whole amount OF
/ United States notes commonly known
as greenbacks, authorized TO be issued
was intended TO be si00, 900, 600 only. Ia
4 fact, however, there were $3.50, ,001. 900
\ in all including the first issue oi 500
4 600 600 under the act Of July IL, 1861.
There was difference, however, be-
\ tween the legal tender quality Of the
notes issued under the last-nam-
ed act and those issued un-
der the following acts. The first
I e50,000,000 were legal tender for
all debts, and they were payable in
coin, while the rest Of the notes, in
tended to be limited TO 800, 600, 900
were legal tender for all debts except
ing duties on imports and interest on
the public debt So many different
acts we're issued that they became con
fusing to the secretaries Of the treas
ury and while il was intended 10
issue only $400, 900, 900 Of United States
notes, excluding the $4,000, 900 full
legal tender before referred 10, on the
Both day OF June, 1865, as appears by
the report Of the secretary Of that year,
on pages 40 and Al, there were outstand-
ing s4O0.6l9, 206 OF greenbacks.
The reader will understand that
"United States notes" and treasury
notes. were at the time OF their issue,
and have been at all times since, re-
garded as two separate and distinct
classes Of government paper money.
The United States notes were what W.
called "greenbacks, - the treasury notes
were not The treasury notes were
made up OF notes issued payable Ia one
year payable in two years payable in
three years, and pay able on demand SO
that they We're called, some OF them,
demand notes, some Of them "One
year notes, some Of them "two-year
notes." some Of them "three-year
notes;" and then, there Wore others
with interest coupons attached, interest
at the rate of 1.3 per cent per annum-
cents "a day on 500; these were called
"l-3O notes. and on the Goth day OF
June, 1865, as appears in the secretary's
report for that year. on pages ~ and
53, there were outstanding ssO6, 25l 800
OF this class Of notes BY referring 20
pages y and 26 OF the report of the sec
retaI-y OF the treasury for 1866 the fol-
lowing different elm end amounts OF
government paper luoley We're out
standing,
Compound interest notes due IN
l13t o.-r.t..,r ..-.--.e A'fVl@ 10Y
7,a treasury notes due ia 1875 SlG25i55J0d
temporary loan, ten days notice ltl lfa.lB GI
Certificates o Indebtedness Dtst
United states notes ........... 40 sm8s6l
fraction currency. .-..- -....... el9,os'6
Tola eei.-l'l'os OF efssl'-''-'' V'io''oo
Natnpa total OF ............. .stB0a0lsua
In addition ia tha above arorut
tbs.-.. Won. ,.retirod counted and da.
st,o,el 8 Ii,tif,,s ~, year s2i ono 5l5 An
rs follows
od issue demand notes ..........s el9f0s5
Sew is-as ie.'i lene. p Aole '-'-'" 33lh5io
r,-, vcar, ,,. ee.lt egtes. eSSl5g
Two-ye4r5 per cent coupon notes. $3.50 1y1 %
SiA pcr cent COMPOUND iht itat ....