Saturday, February 25, 2012
Bankers, economists, and some congressmen predicted that doing so would destroy the economy. But the greenbacks, as they were called, did not end the world as it was then known, and were very successful. Because of them the North was able to pay it's bills and keep it's economy going strong throughout the war.
The Legal Tender Acts paved the way for the creation of a permanent currency. The same one which is still used today, though the looks have changed a bit.