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Texas Redbacks were the informally named paper money issued by Mirabeau B. Lamar to minimize national debt during his Presidency of the Republic of Texas. They are named so because the back of the bills are red. Inflation, due mainly to overprinting, devalued the notes substaintially, making 15 Redbacks equal to one United States dollar. This debt of over $10 million was an important factor for annexation into the United States.
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