Texas
Currency
A selection of common, scarce and rare Texas bank notes (i.e., currency, notes, paper money; Southern States currency from the Civil War era); other numismatic items may be included. If you don't see what you're looking for, please submit your want list. Thank you.
Paper was a scarce commodity in the West and many different types were used . . . An unknown number of persons [printers] performed services for the new republic government in various locations, thus creating many minor varieties, particularly for the warrants . . . The first known Texas currency, in the form of warrants, appeared between late 1835 and early 1836. Warrants issued in Washington-on-the-Brazos, San Felipe de Austin, and Gonzales are known. All warrants are completely handwritten on various types and colors of paper . . . The first issue of notes made by the Republic of Texas was authorized by an Act of (the Texas) Congress passed June 9, 1837. The notes were payable 12 months from the date of issue and bore 10% interest. Most, if not all, of the design ornaments are recycled from those used on the many warrant issues. There are a number of varieties including at least eight different types of paper. Most of these varieties center on variations in how the title for Secretary of the Treasury is abbreviated and minor ornamental differences . . . These notes [second issue] were authorized under an Act of (the Texas) Congress dated June 9, 1837, and, like the first issue, were payable 12 months from the date of issue and bore 10% interest. These notes are also the first produced by an Eastern bank-note company, Draper, Toppan, Longacre & Co. of Philadelphia and New York. It seems likely that the first notes issued (Cr. H1-H12), which were locally printed, may have been intended to fill only a temporary role until these notes could be delivered. Notes with the secretarial signature of Sam Houston as president are worth a premium over those signed by M. B. Lamar . . . These notes [third issue] were authorized under an Act of (the Texas) Congress dated December 14, 1837. These small-denomination notes were redeemable only in other promissory notes of the government. The lower denominations were obviously needed in day-to-day commerce to supplement the earlier large-denomination issues. These notes were produced by Childs, Clark & Co. of New Orleans, apparently in cooperation with a local firm, Niles Print of Houston. The issue was composed of $1, $2, and $3 denominations . . . The Austin issues were necessitated when Austin became the capital city of Texas in October 1839. The basic designs mimic the Houston issues [previously mentioned] with minor changes in ornamentation. This issue [fourth; Austin] of $1, $2, and $3 notes was authorized by an Act of (the Texas) Congress dated December 14, 1838. The need for additional small-denomination notes for use in day-to-day transactions was undoubtedly the motivation for this legislation . . . This issue [fifth] of $5, $10, $20, $50, $100, and $500 notes was authorized by an Act of (the Texas) Congress dated January 19, 1839. All notes have an impressive red-orange back that prominently displays a large Texas Lone Star. It is likely that these notes were authorized to replace The Government of Texas notes (Criswell numbers H14-H21), which had originally been issued in 1838 . . . This series [sixth issue] of notes was authorized by an Act of (the Texas) Congress, dated January 19th, 1842. The total issue amount was quite small, totaling $14,000 . . . The notes have been popularly called the Exchequer Series as the notes were redeemable in exchequer notes. The term exchequer apparently refers to republic officials who were designated as receivers of public revenues. The terminology has its roots in medieval England where the Exchequer referred to the department or office of state charged with the receipt and care of the national revenue. The Act of January 19, 1842, authorized $200,000 in exchequer bills. They were considered by the republic to be the equivalent of specie and were to be redeemed on demand in silver or gold by any receiver of the public revenue. The actual amount issued was somewhat less than $200,000; in fact only $135,890 was issued, according to state records . . . The Civil War-era Texas Treasury Warrants [1846-Jan. 31, 1861] make up a complex series of notes which is difficult to catalog and fully comprehend since state records do not show what type of warrant was used to draw money from each of the separate appropriations. We do know that there were at least 12 military service and 11 civil service act dates coincident with Civil War activities, and it would not be at all surprising if additional act dates are discovered . . . Because there is no information available to support any other hypothesis, all Civil War-era warrants issued for military service are assumed to have all 12 military service act dates, and, simarly, all warrants issued for civil service are assumed to have all 11 civil service act dates . . . Obviously warrants issued for various act dates will vary in rarity. Undoubtedly, some may not even exist . . . There are a numer of instances in which civil service warrants were used for military service purposes (Civil was struck out and Military was written in) and a fewer number of cases where the opposite action was taken (military service warrants were used for civil service purposes by striking out Military and writing in Civil). In general, the military use of civil service warrants increases the rarity number by 1 while the civil use of military service warrants increases the rarity number by 3 or 4 . . . -- A Guide Book of Southern States Currency (2007), by Hugh Shull
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