In response to the less-than-satisfactory framework, the federal government issued demand notes to pay for the Civil War. The idea behind demand notes was similar to the state-issued paper discussed above. In short, holders were able to turn the notes in for coins whenever the bearer of the note wanted to. From Veazie:
 http://www.frbsf.org/publications/federalreserve/annual/1995/history.html . Last accessed 10.20.12
eremiah Newhall is a graduate of The George Washington University Law School and currently serves as a law clerk in Chicago. He can be reached via the miracle of email. Joshua Sturtevant is also a GW Law grad, and currently serves as an in-house legal fellow at a renewable energy financing and development firm.