American Civil War CSA Group of 41 Bond Interest Notes . CWM317

American Civil War CSA (Confederate States of America) Group of 41 Bond Interest Notes (Coupons). Thirty Dollars interest for each coupon for the six months interest on $1,000 Bond. Dates every six months from Jan 1873 to July 1893 interest payment. Bond number 9197. Worn, folded and used condition, coupons cut from a larger loan bond. Overall size approximately 13 1/2 inches x 17 inches

Additional Notes:  As with any war, the Confederate States of America (CSA) needed to raise money to finance their huge war effort. The two primary ways to do this was by taxes and debt. Confederate Secretary of the Treasury Christopher Memminger assumed his duties in February 1861 by floating government loans and creating an instant national debt. In 1861 the Confederacy sold bonds worth $150 million in the so-called Bankers Loans. These bonds were issued with semi-annual coupons that the bondholder could cash from the bond’s issuance to its expiration. Many of these bonds had coupons that were payable as late as 1894. Many of these bonds are found with stamps on the rear indicating certain overseas Bond Holders organizations hoping that the USA would pay off the Confederate bonds. The 14th Amendment to the US Constitution enacted in July of 1868 forbade recognition of the Confederate debt.

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