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20 Dollars 'Redback'
| Issuer | Republic of Texas, Treasury Department |
|---|---|
| Year | 1839-1841 |
| Type | Log in to see details |
| Value | 20 Dollars |
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| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Twelve months after date, THE REPUBLIC OF TEXAS Promises to pay Twenty Dollars to the bearer TREASURY DEPARTMENT Receivable for all Government dues. |
| Reverse description | The reverse is printed entirely in red ink, giving the note its popular 'Redback' designation. A large bold five-pointed star dominates the center of the note, surrounded by mirror-image impressions of the obverse vignettes rendered as a see-through back design. Four circular guilloche ornaments appear at each corner, each enclosing the denomination numeral '20', with decorative lathe-work borders framing the entire composition. |
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| Comments |
The Republic of Texas issued this note during a period of severe fiscal strain — the young republic had essentially no hard currency reserves and financed itself almost entirely through paper emissions. The "Redback" nickname derives from the red ink used on the reverse, distinguishing this series from the earlier "Redbacks" of the first emission and the "星backs" of later issues. The Treasury was printing promissory obligations it had no realistic means of redeeming, and public confidence collapsed accordingly.
By 1842, Redbacks were trading at roughly two cents on the dollar in specie terms. Annexation in 1845 rendered them worthless, and the United States government declined to assume the republic's paper debt.