$20 - 12/26/1814 - INTEREST BEARING

Lot: 18     $20    1814    Interest Bearing Note    One Year    5-2/5%    Fourth Issue 

This one-year interest bearing note was among the first issued by the U.S Government. They were authorized by an Act of Congress, December 26, 1814, to issue 10,500,000 in notes in the denominations of $20, $50 and $100. Actually only 8,318,000 were issued. The interest amounted to 9¢ per month on this note, and it was printed right on the face. This note appears to be very high grade, but it has had a backing added. The face bears two signatures, as does the Hessler plate note, and is otherwise blank, identical to that note except for the plate letter. Signed by Timothy Matlock and Charles Biddle.

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