- Treasury or Coin Notes -
Treasury Coin notes were issued in 1890 and 1891 with the passage of The Legal Tender Act of 1890. This special-interest legislation--passed by Congress through the influence of the silver mining lobby--authorized the issuance of coin notes in denominations ranging from $1 to $1,000 to purchase silver bullion at inflated prices. Their issuance virtually bankrupted the U.S. Treasury. In 1893, to avert a panic, President Cleveland repealed the Silver Purchasing Act.
The obligation on the notes is "The United States of America will pay the bearer ___ Dollars in coin... This note is legal tender at its face value in payment of all debts public and private except when otherwise expressly stipulated in the contract"
-- Series of 1891 --
Head of Edwin M. Stanton, Secretary of War under Presidents Abraham Lincoln, 1862-1865, and Andrew Johnson, 1865-1868
Head of General James McPherson, Union Army general and a hero of the battle of Vicksburg
Head of General George H. Thomas, Union Army general, famous as "the rock of Chicamauga"