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<p>[QUOTE=&quot;OldRRnotes, post: 544272, member: 17782&quot;]<span style="color: black"><font face="Verdana">These notes were backed by Railroad property and real estate. Railroad notes and scrip circulated better than a lot of bank paper.&nbsp; In 1866 the Federal Government put a heavy tax on private issuers like railroads. By calling their notes fare tickets they got around the law. There are a couple of hundered railroads that issued bank notes in the 19th. century.</font></span></p><p>[/QUOTE]</p><p><br /></p>

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