During
the Civil War, coins disappeared from circulation. People hoarded
“hard money” and spent paper money. Because almost no coins remained in
circulation, it was a pain to make change for small purchases.
A solution came when New-York Tribune
owner Horace Greeley suggested using postage stamps instead of small
change. Secretary of the Treasury Salmon Chase petitioned Congress to
authorize Greeley’s
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These Civil War-era relics are difficult to find today. Circulated notes show evidence of use.
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