Steve T.'s Comments

Yep. That's why people called official US paper currency "banknotes" for decades after they'd forgotten what the word really meant.

There was a downside, as the note was only as good as the bank that issued it. This was no problem if you were near enough to the bank to know how healthy it was, but if you tried to pay a bill in Tennessee with a note from the Bank of South-East Boston, you might have a problem.

Fun fact: In the ante-bellum South the most reliable banknotes were from the rock-solid Bank of New Orleans. The most useful bills were $10, equivalent to $100 today, and they had a big "DIX" on the back, the French word for "ten." These became known as "dixies" to English-speaking Americans, and the region where they were readily accepted became known as: Dixieland.

No joke! I have personally seen dixies on sale in antique coin and currency shops.
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Scotchdrnkr: Note that towards the end, as the funosaur is sniffing the kids, someone near the cameraman calls out encouragingly, "Cummon, eat one. Just one!"
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  • Member Since 2012/08/13



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