While most people are familiar with the term “greenbacks,” there was a time when the Republic of Texas printed “redbacks.” Because of its heavy indebtedness, the Republic of Texas resorted to offering interest-bearing notes to raise funds to retire its indebtedness. In 1840, however, noninterest-bearing notes were issued. These were called redbacks.
- Thought of the Day - September 27, 2023
- Thought of the Day - September 20, 2023
- Thought of the Day - September 13, 2023