The United States Notes Act of 1878: Why Congress Forced Treasury to Maintain $346,681,016 in Legal Tender Notes Permanently
In 1878, Congress passed landmark legislation locking the volume of United States Notes at exactly $346,681,016 forever, a political and monetary decision that would shape American currency for the next century. Understanding this act unlocks the collecting story behind every Legal Tender Note issued after that date, from common circulated examples to the rarest high-denomination survivors.
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