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<p>[QUOTE=&quot;scottishmoney, post: 1230503, member: 12789&quot;]Initially it could have been part of a plan to issue the $3 denomination - if you look at the $1 and $2 notes from that period you will notice in the centre of the note the 1, 2, and 3 numerals.&nbsp; As work progressed on the notes, the $3 denomination was indeed passed over - indeed that slot could be filled with a $1 and a $2.</p><p><br /></p><p>By the end of the Civil War obsolete banking issues had been eclipsed by the new National Bank issues and of course the Legal Tender notes - the tax on private note issue was 10% which was prohibitive and eliminated the vast majority of commercial banks issuing notes.&nbsp; But there was one little loophole that was later closed - states and municipalities, particularly in the southern states had a history of issuing notes and continued to do so until the federal government finally put a stop to those issues.</p><p><br /></p><p>At the cessation of formal hostilities at the close of the Civil War, the era known as &quot;Reconstruction&quot; saw numerous instances of currency being issued by municipalities and states, primarily in the 1860&#039;s.&nbsp; By the mid 1870&#039;s most of the reconstruction era governments had been voted out of office and the so called &quot;carpetbaggers&quot; were sent away.&nbsp; This unusual and now very rare example of a municipally issued $3 bill was indeed likely one of the last issued in this denomination - the city government that issued it was out of office the following year and these note issues were terminated.</p><p><br /></p><p><img src="http://scottishmoney.net/banknotes/usa/mobile31875.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p>The vignette of the Union welcoming back the south, with their swords cast to the ground, was used on a Rhode Island obsolete in 1865, also on a note from Memphis TN from the same period.&nbsp; On this City of Mobile AL note it was used as early as 1865 and as late as this date.&nbsp; These notes were quickly removed from circulation in 1876 and largely forgotten.[/QUOTE]</p><p><br /></p>

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