Sixth Issue - Introduction
This issue was authorized by the Act of March 23, 1863. A limit of $50,000,000
was placed on the notes ranging from $5 to $100 dollars. The 50¢, $1,
and $2 were to be produced for a combined total of $15,000,000.
The three lower value bills again read that they will be payable "two years after the ratification of a treaty of peace." This may indicate the pressure the southern states were feeling as the war stretched out and resources grew scarce.
Lower denominations in this issue have plain reverses while the others have ornate blue reverses with the denomination printed. These reverses are similar to those used in the Fifth Issue of December 2, 1862. The $5 to $100 bills are overprinted with the month and year of issue. This overprint allowed these notes to be converted to bonds bearing 6% interest. This could be done within 12 months of the first day of the month in the overprint. If this conversion was not done, these bills became payable without interest two years after a treaty of peace. These bills, though, became lesser in value by the provisions of the Act of February 17, 1864, which authorized the Seventh Issue.
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