Description
A genuine 1878 $5 State of Louisiana Interest Bearing Note, also known as a Baby Bond, in Circulated Condition
Following the Civil War, the federal government imposed a hefty tax on state bank notes. The state of Louisiana avoided the tax by issuing these bonds and using them just like regular bank notes. Signed by Louisiana Governor Louis A Wiltz and State Treasurer Edward A Burke, bonds with incomplete dates are remainders that were never issued.
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