Title: Greenback (1860s money) - Wikipedia
Headings: Greenback (1860s money)
Greenback (1860s money)
Contents
History
Before Civil War
Civil War
Demand Notes
United States Notes
Complete set of 1862–63 greenbacks
See also
Notes
References
Sources
Further reading

Content: Issuing unbacked paper money was not an idea that Lincoln really liked, but there was mounting pressure in Congress to do something. The government could either print its own money or go into deep perpetual debt to foreign creditors. That made President quickly endorse Taylor's proposal. On February 25, 1862, Congress passed the first Legal Tender Act, which authorized the issuance of $150 million in United States Notes. Since the reverse of the notes was printed with green ink, they were called "greenbacks" by the public and considered to be equivalent to the Demand Notes, which were already known as such. The United States Notes were issued by the United States to pay for labor and goods. Earlier, Secretary Chase had the slogan " In God We Trust " engraved on U.S. coins. During a cabinet meeting, there was some discussion of adding it to the U.S. Notes as well. Lincoln, however, humorously remarked, "If you are going to put a legend on the greenbacks, I would suggest that of Peter and Paul, 'Silver and gold I have none, but such as I have I give to thee. ' " California and Oregon defied the Legal Tender Act.