The War of 1812 triggered our nation’s first severe financial crisis since the Revolution. Yet for the most part it is a forgotten conflict. Often called our nation’s “Second War of Independence,” the conflict erupted after an extended disagreement with Great Britain over trade tariffs and their continued capturing and impressing of U.S. citizens for British maritime service, including prosecuting their war against France. The war lasted more than two years, and ended in something of a stalemate but did confirm American Independence.
These Treasury Notes significantly helped to provide a medium of exchange for our fledging nation during the most difficult part of the war and as such are among the most important currency ever provided by the United States. A total of five issues between 1812 and 1815 totaling $36 million in denominations of $3 to $1,000 were emitted. The notes proved to be extremely successful and were fully subscribed and accepted by banks and merchants.
