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Money & Its HistoryMonetary History

Greenbacks: Money for a War

The Civil War gave America paper money backed by law, not gold

In 1862 the Union ran out of gold mid-war. So it printed money backed by nothing. Did anyone take it?

You'll find out

  • What the Union did when gold ran out
  • Why your dollar is called a greenback
  • The judge who ruled against his money

Why it matters

Your dollars run on the same idea the Union gambled on in 1862. Here's where it started.

About 3 min6 interactive slides · 5 questionsLesson 147 · Zone 17

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