POSTAL CURRENCY
\pˈə͡ʊstə͡l kˈʌɹənsi], \pˈəʊstəl kˈʌɹənsi], \p_ˈəʊ_s_t_əl k_ˈʌ_ɹ_ə_n_s_i]\
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A substitute for fractional currency during the Civil War, owing to the scarcity of silver. This was invented by General Spinner, United States Treasurer under Lincoln. Postage stamps were pasted upon the paper used for government securities and representing different sums. These bits of paper were circulated among the clerks of the department, and became for a while the medium of small exchange.
By John Franklin Jameson
Word of the day
tinctura quininae ammoniata
- A preparation made by dissolving quinin sulphate in alcohol [Br. Ph.].