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August 31, 2024 4 min read Definitions
Legal Tender Act of 1862: Authorized the Issuance of Greenbacks during the Civil War
History Finance Legal Tender Act 1862 Greenbacks Civil War U.S. Legislation
The Legal Tender Act of 1862 was a pivotal piece of legislation in U.S. history, authorizing the issuance of paper currency not backed by gold or silver, known as Greenbacks, to finance the Civil War.
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