The Confederate States of America dollar was first issued just before the outbreak of the Civil War by the newly-formed Confederacy. It was not backed by hard assets, but simply by a promise to pay the bearer after the war, on the prospect of Southern victory and independence.
As the war began to tilt against the Confederates, confidence in this currency diminished, and inflation followed. By the end of 1864, the currency was practically worthless.
The Confederate Dollar (or "Greyback") remains a prized collector's item, in its many versions, including those issued by individual states and local banks. The various engravings of leading Confederates, Gods and Goddesses and scenes of slave-life, on these hastily-printed banknotes, sometimes cut with scissors and signed by clerks, continue to stimulate debate among antique dealers, with even some of the counterfeit notes commanding high prices.
Read more about Confederate States Of America Dollar: Background, Designs, Signatures, Coinage, Banknotes
Famous quotes containing the words confederate states of, confederate states, confederate, states, america and/or dollar:
“Figure a man’s only good for one oath at a time. I took mine to the Confederate States of America.”
—Frank S. Nugent (1908–1965)
“Figure a man’s only good for one oath at a time. I took mine to the Confederate States of America.”
—Frank S. Nugent (1908–1965)
“During the Civil War the area became a refuge for service- dodging Texans, and gangs of bushwhackers, as they were called, hid in its fastnesses. Conscript details of the Confederate Army hunted the fugitives and occasional skirmishes resulted.”
—Administration in the State of Texa, U.S. public relief program (1935-1943)
“On September 16, 1985, when the Commerce Department announced that the United States had become a debtor nation, the American Empire died.”
—Gore Vidal (b. 1925)
“In America every woman has her set of girl-friends; some are cousins, the rest are gained at school. These form a permanent committee who sit on each other’s affairs, who “come out” together, marry and divorce together, and who end as those groups of bustling, heartless well-informed club-women who govern society. Against them the Couple of Ehepaar is helpless and Man in their eyes but a biological interlude.”
—Cyril Connolly (1903–1974)
“Commercial to the core, Elvis was the kind of singer dear to the heart of the music business. For him to sing a song was to sell a song. His G clef was a dollar sign.”
—Albert Goldman (b. 1927)