America's Ever-Changing MoneyMoney After the Civil War and Before the Federal Reserve (1865-1913)

Legal Tender Note: $5 Note (1907)

Legal Tender Notes

The Treasury continued to issue legal tender notes after the Civil War. These notes could be used to pay all debts, public and private (except for customs duties). This design, known as "the Woodchopper" because of the engraving of a pioneer with an axe, was issued from 1869 through 1921.