America North Albums
In 1861 Congress authorized the United States government to finance the Civil War with its own paper money rather than that issued by private banks. Congress also authorized the creation of the Bureau of Engraving and Printing (BEP) as a division of the Treasury Department. The Bureau began operations on August 29, 1862, its initial functions being signing, separating, and trimming sheets of the Treasury’s privately-printed Demand Notes. Over time, the Bureau assumed more of the work of engraving and printing, producing fractional currency, revenue stamps, government obligations, and other security documents for many federal agencies. The Bureau was the sole producer of all U.S. paper currency by 1877.
