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Story of Money


Section 13: The Civil War era Previous | Next | Section Index
The Union government established national banks
In the National Banking Act of 1863, Congress authorized federally chartered, privately owned banks called national banks. The first of these banks were in the North, but after the war they spread to the South. They lent money to the government to finance the war, performed the usual commercial banking services, and provided paper currency like these notes.

$1 note of First National Bank of Chelsea, Vermont
Series 1875 (first charter period, second series)

$20 note of Lowry National Bank of Atlanta
Series 1882 (second charter period)

$20 note of Andalusia National Bank, Andalusia, Alabama
Series 1902 (third charter period)
 
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