1870's US Fractional Currency 25c Fifth Issue fr-1309 Short Key Robert Walker Secretary of the Treasury Grades vf+. Robert James Walker (July 19, 1801 – November 11, 1869) was an American lawyer, economist and politician. An active member of the Democratic Party, he served as a member of the U.S. Senate from Mississippi from 1835 until 1845, as Secretary of the Treasury from 1845 to 1849 during the administration of President James K. Polk, and briefly as Territorial Governor of Kansas in 1857. He was responsible for drafting the 1849 bill that eventually established the United States Department of the Interior. Fractional or postage currency has a rich history. At the beginning of the Civil War people starting hoarding coins for their precious metal content. Coins became difficult to find because of the hoarding. People started to try to use stamps instead of coins as a means of commerce. The government decided to help ease the hoarding issue by issuing “paper coins” also known as postage currency or fractional currency. Fractional currency was first issued on August 21, 1862 and they were last issued on February 15, 1876. Three cents, five cents, ten cents, twenty-five cents, and fifty cents notes were all issued. Fractional currency is physically smaller than other United States money. It also does not have a serial number.