Fourth Issue - Introduction
The Fourth Issue, authorized by the Act of April 17, 1862, was primarily
an issue of $5,000,000 in $1 and $2 notes along with another $165,000,000
printed on the $100 interest notes. The $100 notes were changed to bonds
by the Act of February 17, 1864. Also, there are several unexplained notes
(see Enigmatical Issues) that were not authorized
by the April 17 act but were dated September 2, 1862.
The Act of September 23, 1862 authorized an addtional $5,000,000 in $1 and $2 notes. The Secretary of the Treasury was generally reluctant to release bills of such low denomination.
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