T8 - $50 Hoyer & Ludwig

from the second issue, July 25, 1861

This note has a bust of George Washington in the center. Tellus seated at lower left. Total issue was 123,564. Prior to producing this note, Hoyer & Ludwig used these same vignettes in a similar arrangement on a $1.50 note of May 1, 1861 printed for the Southern Manufacturers Bank in Richmond. Subsequently, the vignettes were again used but in a transposed arrangement on State of Florida notes issued during the fall of 1861.

This note is occasionally found stamped in green with a "C" inside an oval as illustrated. Its exact use is unknown. While several explanations have been advanced, none answer the question of "Why this issue only?" A small capital "P" in green also appears stamped on some of these notes as well as Nos. 8 and 10. These may or may not be contemporary control or inspection markings.

There are 9 varieties of this note not including markings described above. These result from differences in plate letters (B, Bb, C), plain, thin or bond papers, and "For" written or printed. There is also a difference in the location of the oval frame of Washington's portrait over the "5"--some 5's are more completely covered. This makes additional minor varieties.

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