Currency of Uruguay issued by Banco Nacional of Buenos Aires for Provincia Oriental ("Eastern Province", i.e., Uruguay). All parties to the conflict used the Spanish dollar (Spanish "peso", Portuguese " patacão"), which circulated with a value of 8 Spanish reales or 960 Brazilian reis. Circulation consisted of coins from mints in Mexico, Potosí, Brazil, and Buenos Aires. During the turbulent period of conflict preceding independence, a considerable amount of poor-quality copper coin from both Buenos Aires and Brazil came into circulation. Peso (Patacón) = 8 Reales = 800 Centésimos de real (centavos) Onza de oro = 16 Pesos In 1828, Uruguay's currency was
Currency Act of 1870 Currency Act of 1870 The Currency Act of 1870 (41st Congress, Sess. 2, ch. 252, , enacted July 12, 1870) maintained greenbacks issued during the American Civil War at their existing level, about $356 million, neither contracting them nor issuing more. It replaced $45 million in "temporary loan certificates," paper bearing 3% interest but which circulated as currency, with the same amount of national bank notes issued by newly chartered banks. While achieving currency stabilization, the act answered midwestern pressure for more currency, and midwestern dissatisfaction with the concentration of national bank charters in the Northeast. The limit of the