1873 State of Louisiana 5 Dollar Baby Bond - Series of 1873 - 5 Interest Coupons, 7 1/2 Cent Coupons - 1873 Louisiana Five Dollar Baby Bond

This listing is for the photographed 1873 State of Louisiana 5 Dollar "Baby" Bond Certificate with Coupons. Series of 1873. Fully stamped and issued. Note has five 7 1/2 cent interest coupons. These certificates were known as "baby" bonds because of the vignette of the young child printed on the obverse. Uncirculated (UNC) grade/condition, crisp note! Amazing piece of history! CR-LA-29.

By the end of the Civil War the United States began to issue heavy taxes on state and independently issued (obsolete) banknotes. The State of Louisiana found a way to avoid these taxes by issuing notes disguised as bonds with interest, such as these "baby" bonds. It was common knowledge to the public that these bonds were equal to the federally approved currency and were used within the state as regular banknotes. These bonds were signed and approved by the Louisiana state treasurer Edmund Burke, who was later indicted on counterfeiting charges. Officials discovered over $300,000 worth of counterfeited "baby" bonds such as these in his personal safety box. Burke fled to Brazil to avoid arrests for these charges and spent the rest of his life in Honduras to avoid his arrest. These bond coupons hold incredible history into the economy of post-Civil War Louisiana! 

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1873 State of Louisiana 5 Dollar Baby Bond - Series of 1873 - 5 Interest Coupons, 7 1/2 Cent Coupons - 1873 Louisiana Five Dollar Baby Bond