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Rag Money

A nickname given to the paper money introduced during the Civil War in the United State's.

During the Greenback agitation the ad- vocates of unlimited paper money were often depicted by the cartoonists as nursing a rag doll, in allusion to the fact that the paper on which the Greenbacks were printed was made almost entirely from linen rags.


Source: Frey's Dictionary (American Journal of Numismatics, Vol. 50, 1916)
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