Oct

14

US legal notes

Filed Under Finance General, US Finance Regulations | Leave a Comment

The department of treasury in United States introduced the paper currency known as United States Note. This is intended for circulation inside the country and was known as Legal tender notes. This is considered to be the first currency of US under the legal tender act of 1862.

The treasury department usually issues these notes directly and is the obligations of the government of US. Congress has set limitations on the issue of these legal notes. Aiming at an economic stability, the currency acts was set up in various years. This put a warning in the form of limitation of the notes that can be circulated and kept outstanding in the nation.