The New International Encyclopædia/Treasury Note

TREASURY NOTE. A certificate of credit issued by the Treasury Department on the authority of the Government and made receivable for government dues. In the United States, treasury notes bearing interest were issued at different times before the Civil War, but it was during that struggle that the financial necessities of the Government first led to the issue of very great quantities of non-interest bearing treasury notes, which, however, were made legal tender for all public and private debts except duties upon imports and interest on the public debt. See Money.