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Message:: [QUOTE="GoldFinger1969, post: 25277568, member: 73489"]United States Notes: Besides the Red Seal, the notes didn't have a $10, $20, or $50 denomination.  They were issued from 1862 to 1971.  I still don't know why we had USN's and FRN's being issued at the same time -- you'd think there'd only be 1 type of currency bill (aside from the years with GC's and SC's). The bulk of federal revenues came from import duties (no federal income tax until 1913 !  <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie8" alt=":D" unselectable="on" unselectable="on" /> ) so the government wanted gold and not paper for those fees.  On interest on the national debt: the fear was that being able to pay in paper would collapse the bond prices so paying interest in gold was seen as maintaining the creditworthiness of the United States (smart move !).  That's why you had these 2 weird exclusions specifically listed. In the 1930s, this USN legalese would be changed to: "This note is a legal tender at its face value for all debts public and private."[/QUOTE]