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Greenbacks because it was green. Answer: When the Civil war began, each State had its own banking system, and each individual bank also created and issued currency on its own. The value of money from differing banks and States might be discounted by as much as fifty percent. Bank notes of the Civil War were elaborate and well engraved, but they were also regularly counterfeited. At the war's end about one half of all US and CSA paper currency was phony. Banks that had once issued their own notes had often failed by mismanagement or blatant fraud. Of course at war's end, all Confederate money lacked value. The nation's banking system had completely failed and a new Federal Bank would have to be created. Greenbacks would one day become the World's Currency, but only long after the Civil War was a distant memory.
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What was the paper money issued by the Union called?
Greenbacks
What was the nickname of paper money issued by the union?
greenbacks
What was a nick name for union paper money?
Greenbacks.
What is the nickname for union paper money?
Greenbacks.
Union paper money during the civil war?
Greenbacks.
What was the union paper money at US Civil War?
Greenbacks.
What were ''greenbacks''?
Paper money, whose issue was authorized by the Union Congress in February 1862. They were called greenbacks because of their colors. commodity money used by the union during the civil war
After the South seceded from the Union the Confederate government issued over one billion dollars in?
paper $$$ - AnDrea C. chheeaaa!
After the South seceded from the Union the Confederate government issued over one billion dollars in .?
paper money
What provided the largest amount of wartime funds for the union?
increased tariffs and taxes new issues of paper money the sale of bonds
What was shinplaster?
paper money paper money
When did Norwegian Union of Paper Industry Workers end?
Norwegian Union of Paper Industry Workers ended in 1988.
