Texas was an independent republic from 1836-1845. They issued several series of paper money and bonds to finance the Republic of Texas Navy and other government debt. In most cases, it became almost worthless very quickly because there was really nothing to back the money. However it was accepted as payment for taxes, so folks would buy it up at pennies on the dollar, then use it at face value to pay taxes. Since no one would accept it at face value once it came back to the treasury, everything that came in was cancelled by cutting with razor blades or in writing with ink. I started collecting this stuff back in the 70's but have sold most of it off. However I scanned everything so I could enjoy it at home while the real stuff lived in the safe deposit box.
There are many replicas around today. You can buy them off ebay, Buc-ees, or any place that sells Texas tourist stuff. The supermarket chain Safeway even had a promotion back in the 60's where they gave out replicas.
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