American Civil War CSA Small Interest Note . CWM323

American Civil War CSA (Confederate States of America) Bond Interest Note (Coupon). Fifteen Dollars interest coupon for the six months interest on original Bond amount. Hand numbered. This one would be due Jan 1st, 1868 on Bond 150 which was originally for $500.  This is one of the small interest notes cut from the original large bond that typically had a large number of interest notes due 6 months apart (Typically the interest notes dated every six months apart for about 20 year or so interest payment range). Size of small interest note approximately 3 inches x 1 7/16 inches. Worn condition.

Additional Notes:  As with any war, the Confederate States of America (CSA) needed to raise money to finance their huge war effort. The two primary ways to do this was by taxes and debt. Confederate Secretary of the Treasury Christopher Memminger assumed his duties in February 1861 by floating government loans and creating an instant national debt. In 1861 the Confederacy sold bonds worth $150 million in the so-called Bankers Loans. These bonds were issued with semi-annual coupons that the bondholder could cash from the bond’s issuance to its expiration. Many of these bonds had coupons that were payable as late as 1894. Many of these bonds are found with stamps on the rear indicating certain overseas Bond Holders organizations hoping that the USA would pay off the Confederate bonds. The 14th Amendment to the US Constitution enacted in July of 1868 forbade recognition of the Confederate debt.

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