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Comte de Paris, History of the Civil War in America. Vol. 3. (ed. Henry Coppee , LL.D.), Book III:—Pennsylvania. (search)
per: The notes in circulation, including the goldnotes, represented the sum of $222,932,111; those which had been received by the government and exchanged for certificates of deposit amounted to $80,798,650; the fractional currency, to $3,884,800; the contractors had accepted $87,363,241 of certificates of indebtedness; lastly, the Treasury had been able to place in the market, at the current rate of 66, the sum of $23,750,000 of the 5-20 six per-cent. bonds authorized by the act of 25th of February, 1862. Finally, the existing laws placed at the disposal of the government various sources of credit of considerable importance. It could issue notes, or greenbacks, to the amount of $27,067,889, and, moreover, receive $20,201,350 (the total amount of deposits being limited to five hundred millions) in exchange for certificates of deposit, and place them again in circulation. No restriction having been imposed upon the issue of small notes, it was thought that their issue could be inc