Salt Lake Telegram | 1933-05-11 | Page 20 | [Untitled]

iii CHAPTER 6 THE 6 THE CIVIL WAR GREENBACK ERA I MONEY If THE STONE TE AGE A GE UNTIL NO NOW W By WILLIS VILLIS THORNTON FROM O OM FR 1 1 I 1 V L v Vy Y Y Sketches by hy Art Krenz I I OlASE G- G SIGNS THE flIE I n- n GREENBACK J O ORDER T Ni I jt Iv j N tj nT nr I 1 c I I I L it I Jl 2 1 I rh I Vf Ii I t ol Clr he b rl so UCtO f r 1 I N Na sooner were they the Issued than the greenbacks began to 1864 greenbacks were worth only 35 cents on the dollar It took until I 1879 for or the country lo to grow up lo to Us Its currency When the War broke out the government again faced a alack depreciate Not only gold and silver dollars but even minor But the debtors of ot the and like those of 75 1800 Export of ot bumper crops brought enough gold into nto the country lack of tax revenue to carry on the war It began issuing paper coin were dr driven out of circulation and first business firms and those of 1933 1929 demanded more money to pay their so that at last the greenbacks became redeemable in gold money or greenbacks At first it intended to redeem these and then the government itself had to lo issue paper nickels debts Sporadic attempts to retire greenbacks by paying coin But they remained in circulation being reissued when turned in coin but lut soon there were too many of them dimes and q quarters arters deris derisively veY called shinplasters I for them frn-them them met only moderate success m for payment in coin Next The World Turns Jo to Gold