Republic of Texas
During the 10 years that Texas was its own country it authorized the
issue of $4,095,990 in paper money in several different styles.
President Sam Houston authorized the publication of this $75 bill in
1838. The money created at that time was commonly called "star money"
because of large stars printed on the front of the bills. But with no
design on the back and poor print quality, star money was widely
counterfeited. In 1839 President Mirabeau B. Lamar issued these $5 and
$50 bills. Called "red backs" because of the ornate red designs printed
on the backside of the bills, this added feature helped deter
Republic currency was similar to savings bonds in many ways. Although
people traded them for goods and services, only after the notes matured
would the government redeem them. An "X" was then cut on the front of
notes to prevent employee theft.
The value of money was not very stable in the Republic. The red
backs, for example, were only valued at two cents on the dollar in 1841!
This 3 Dollar bill is an example of the currency issued in 1838
The back of these bills were not printed
This 5 Dollar bill is an example of the currency issued in 1839
This is the infamous "Red Back" of the $5 note
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