Confederate hundred-dollar note

A hundred-dollar note of the Confederacy, issued at Richmond. The note reads that it will be paid six months after the ratification of a treaty of peace between the Confederate States and the United States — the wording says of itself that the redemption of this paper was bound to the fate of the Confederacy as a state. Through the Civil War that began in 1861, the paper of the South moved with the fortunes of the fighting, and with defeat it became all but worthless. The value of paper is one with the fate of the state that carries it — this paper proved in the harshest form the principle the Continental notes had taught.