Friday, February 15, 2008

Dollars & Cents, Pounds & Pence. The Republic of Texas

Five Dollar Bill from the Republic of Texas (1839-1841)

The so-called Texas "redbacks" were issued in 1839. The government printed over two million dollars in redbacks, which were initially worth about 37 cents to a U.S. dollar.
By 1842, the redbacks had become virtually worthless and had lost the power of legal tender. Once again Texans used bank notes from other states and shinplasters instead of the Texas money. [link]

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