Description

United States of America.

State of Louisiana Bond known as 'Baby Bond', 1874-78.

Five Dollars 1874, cancelled.

Issued for Certificate number 450, Series 1874. Bond number: 71682.

Size: 140mm x 88mm.

"At the close of the Civil War, the federal government imposed a large tax on state bank notes. The state of Louisiana issued small bank notes and disguised them as interest-bearing bonds. These $5.00 bonds have a picture of a baby on the front. Thus the state avoided the tax. EverYone knew that they were worth the same as federally approved currency, so they were used throughout the state."

SOLD.