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Legal Tender Act, February 25, 1862

Legal Tender Act, February 25, 1862

New York Representative Elbridge Spaulding, a member of the House Ways and Means Committee, introduced this bill “To authorize the issue of United States Notes and for the redemption or funding thereof, and for funding the floating debt of the United States." This became the first Legal Tender Act, and authorized the creation of “greenbacks.”

Records of the U.S. House of Representatives, National Archives and Records Administration