Complete set of eight Civil War currency bills issued by The Mississippi Central Railroad Company
Complete set of eight Civil War currency bills issued by The Mississippi Central Railroad Company
Complete set of eight Civil War currency bills issued by The Mississippi Central Railroad Company
Complete set of eight Civil War currency bills issued by The Mississippi Central Railroad Company

Complete set of eight Civil War currency bills issued by The Mississippi Central Railroad Company

Holly Springs, Mississippi: The Mississippi Central Railroad Company, January 1st, 1862. Unbound. All eight bills (5, 10, 25, 50, & 75 cents and 1, 2, & 3 dollars) feature one of two different illustrations of a classic 4-4-0 locomotive pulling passenger cars on their fronts; the reverses are blank. The bills are in nice shape with decent margins. All are complete with the exception of the tiny tip of the 5-cent bill. Light wear and soiling. Very good. Item #009540

In 1852, the Mississippi Central Railroad was chartered by the State of Mississippi to build a railroad from Canton, Mississippi to Grand Junction, Tennessee. It was financed by wealthy cotton planters and passed through the towns of Grenada, Water Valley, Oxford, and Holly Springs. Its first train, a passenger train, ran from Holly Springs to Oxford in 1857. In January of 1860, the final leg of track on this 26-mile-long shortline was laid completing a railroad system that linked the Great Lakes and the Gulf of Mexico. In 1862, during the Civil War, General Ulysses S. Grant unsuccessfully attempted to capture the railroad during the Union Army’s Vicksburg campaign.

Before 1837, banks within the United States could only be chartered by specific acts of state legislatures, however that year, the State of Michigan approved legislation allowing for automatic bank charters if an organization could meet a set of basic requirements. In 1838, New York passed a similar law and other states quickly followed suit. In addition to accepting deposits, paying interest, and making loans, these private organizations were allowed to issue currency, and by 1860, municipalities, private banks, railroads, construction companies, stores, restaurants, churches and even individuals had printed an estimated 8,000 different types of banknotes by 1860. This “free banking era” ended after many private banks went bust during the Panic of 1866.

Price: $500.00