| Section 13: The Civil War era | Previous | Next | Section Index |
| Earning interest made these notes more acceptable These two notes were issued in 1864, when the Treasury was hard pressed to finance the war. The compound-interest note bore interest at 6% per year for three years. The interest-bearing note paid 7.3% per year for up to three years. The accruing interest tended to offset the effect of inflation. |
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