1886 $5 Louisiana Baby Bond

Product Description

Following the Civil War, the federal government imposed substantial taxes on all state-issued bank notes. Louisiana deftly avoided paying Uncle Sam's cut (and right under his nose, no less!) by issuing these $5 bonds with interest-bearing coupons. These incognito "Baby Bonds" were actually used like bank notes and circulated freely as legal tender in the South. Add this fascinating piece of Reconstruction Era history to your collection today! Actual size 5½" x 3".