GROUP OF 4: $5 1870s Louisiana BABY BONDS from SCANDAL in LA Civil War Ch CU

$5 1870s State of LouisianaSet of 4: Baby BondsAn unusual treat to have a quartet of Baby Bonds! Each bond has retained four of its original eleven coupons and the embossing of the design elements remains quite strong. Only serial 432 shows faint and gentle evidence of handling. All notes remain crisp, attractive, and affordable. SCANDAL IN LOUISIANA!! Rare stamped signature of Louis A. Weltz, the Governor of Louisiana who was elected in 1880 but died of tuberculosis just one year later at the age of 38. E.A Burke, Democrat and 'carpetbagger', treasurer of Louisiana, whose stamped signature also appears at the bottom of the bond, stole over $1,500,000 from Louisiana over his ten years in office and after he was indicted and lived as a fugitive from justice in Europe and Honduras until his death in 1928. In the late 19th century, numerous bonds issued in the 1860s and 1870s by Louisiana were surrendered to the state in the 1880s to be cancelled in exchange for newly issued bonds. Burke issued the new bonds but never cancelled the old bonds, instead reselling them in the open market and pocketing the money for himself. Engraved small denomination bond issued by the state of LOUISIANA, January 1881. Nice vignette of baby in bonnet. These bonds were affectionately called "baby bonds" because of the baby on each bond plus the small denomination of $5 which allowed many individuals to purchase them and help the state of Louisiana during the period of reconstruction after the Civil War. Ch CU

Series Year	1878
Country	United States
Denomination	$5
Grade
Signature	E.A. Burke and Louis A. Weltz
Grading Agency	Dealer
Category	Obsolete Currency
Serial No	Lot of 4: 48335, 48339, 483341, 432
Status	Active
Seal	-