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History of the Currency, 1848 - 1873 by Walter G. Watt, 1898

History of the Currency, 1848 - 1873 by Walter G. Watt, 1898, Page 18

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16. Part III. The Act of February 25, 1862 The condition into which the county had been forced by the throes of civil war led Congress to pass a bill which became a law on Feb. 25, 1862, concerning which both at the time of its passage and since there has been a great deal of discussion as to whether Congress in passing it did not exceed its constitutional powers. The main features of the bill were as follows. $150,000,000 of these to be in here of the $50,000,000 of demand notes provided by the bill of July 17, 1861. The notes were to be receivable in payment of all dues to the United States except duties on imports, and of all claims agains the United States except interest on bonds and notes, which was to be paid in coin; and the notes were also to be a legal tender
 
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