Second Issue - Introduction
This issue was authorized by the Act of May 16, 1861 that limited the
issue to $20,000,000, "fundable in Confederate stock bearing eight
per cent interest." The Act of July 24, 1861 authorized the use of
clerks to sign the bills for the Register and Treasurer. Some notes were
likely already printed as they have "for" written instead of printed
before Treasurer and Register.
This issue has many minor varieties and plate letters. The real value of the notes of this issue is difficult to ascertain since the paper often did not wear well. Also, many of these notes were used to purchase bonds, and many were replaced or lost. Most of these bills were engraved by Hoyer & Ludwig. There are examples of a $5 note engraved by Jules Manouvrier, but his notes were not found acceptable by the Confederate government and banks.
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