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20 Dollars 'Redback'
| Issuer | Republic of Texas, Treasury Department |
|---|---|
| Year | 1839-1841 |
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| Currency | Dollar (1839-1846) |
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| Obverse description | The obverse is engraved in a classic early American bank note style, with a large denomination numeral '20' repeated in three corners. At left, a standing Native American warrior with bow and arrow occupies a vertical vignette; at upper center, a circular guilloche medallion encloses the denomination numeral, flanked by allegorical female figures in classical vignettes; at lower right, a seated female figure with a cornucopia appears within an oval vignette. The central text panel carries the promissory legend in ornate letterpress script, with a five-pointed star underprint at bottom center and two manuscript signature lines below. |
|---|---|
| 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. |
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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.