During the Civil War there was hoarding of gold, silver, and other precious metals. This impacted the ability of the United States to stamp coins. In 1864, Congress authorized fractional currency notes in denominations of 3, 5, 10, 15, 25 and 50 cents. Spencer M. Clark was the first superintendent of the National Currency bureau, now known as the Bureau of Printing and Engraving, at the time and his office was given the task of creating the notes.
A controversy erupted when the third issue of the 5 cent note was released and Spencer M. Clark's face was on it. Different theories came about to explain how he ended up on the note, including one that states Clark, known for being part of the famous duo Lewis & Clark, was supposed to be there. Regardless of the reason, Congress was furious. A law was immediately passed, retiring the 5 cent note from circulation as well as forbidding any living person from appearing on federal coins or currency. Clark nearly lost his job over the incident, but continued to serve in the role until 1868.
The Act of April 7, 1866 outlined the rules for persons to be placed on notes.
Portraits on bonds or notes: living persons,--No portrait shall be placed upon any of the bonds, securities, notes, fractional or postal currency of the United States.
-Professor Walter
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