. Civil war and reconstruction in Alabama . :./ ——-— —■ ■— ——7 L^ .:;k^ Confederate PostageStamps. Private Money. Printed in large sheets on oneside only and never used. The other side is astate bill similar to the one above. Paper wasscarce, and the state money was printed so thatwhen cut apart the private money was destroyed. TRADE, BARTER, PRICES 179 At the end of i86i. Confederate money was worth as much*IS Federal, but it had depreciated. Often private credit was betterthan pubHc, and individuals in need of a more stable circulatingmedium issued notes or promises to pay which in the immed
. Civil war and reconstruction in Alabama . :./ ——-— —■ ■— ——7 L^ .:;k^ Confederate PostageStamps. Private Money. Printed in large sheets on oneside only and never used. The other side is astate bill similar to the one above. Paper wasscarce, and the state money was printed so thatwhen cut apart the private money was destroyed. TRADE, BARTER, PRICES 179 At the end of i86i. Confederate money was worth as much*IS Federal, but it had depreciated. Often private credit was betterthan pubHc, and individuals in need of a more stable circulatingmedium issued notes or promises to pay which in the immediateneighborhood passed current at their face value. Great quantities3f this card money or shinplasters were issued, and in somecommunities it almost supplanted the legal money as a more reliablemedium of exchange. The Alabama legislature passed severe lawsagainst the practice of issuing card money, but with httle effect. The effect of depreciation of paper money was the same as atax so far as the people were concerned. F
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