Today I learned that in the late 19th century, some banks in the U.S. issued their own currency notes, known as "banknotes." These notes could vary widely in design and value, leading to a confusing system until the federal government standardized currency with the National Banking Act of 1863.
Today I learned that in the late 19th century, some banks in the U.S. issued their own currency notes, known as "banknotes." These notes could vary widely in design and value, leading to a confusing system until the federal government standardized currency with the National Banking Act of 1863.