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	<title>CFOsnafu.com &#187; IOU</title>
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	<description>Some days it should be legal to keep two sets of books</description>
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		<title>Could Civil War IOU haunt your company?</title>
		<link>http://www.cfosnafu.com/could-civil-war-iou-haunt-your-company/</link>
		<comments>http://www.cfosnafu.com/could-civil-war-iou-haunt-your-company/#comments</comments>
		<pubDate>Tue, 24 Jun 2008 10:00:39 +0000</pubDate>
		<dc:creator>Shane Borer</dc:creator>
				<category><![CDATA["Would you want this person in Finance?"]]></category>
		<category><![CDATA[Contract disputes]]></category>
		<category><![CDATA[In this week's e-newsletter]]></category>
		<category><![CDATA[Latest news & views]]></category>
		<category><![CDATA[Civil War]]></category>
		<category><![CDATA[Collections]]></category>
		<category><![CDATA[Debt]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[IOU]]></category>
		<category><![CDATA[Tampa]]></category>

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		<description><![CDATA[Collectors are persistent, but if this loan&#8217;s any indication, your people don&#8217;t know the half of it. Joan Kennedy Biddle, a 77-year-old Tampa resident, is suing to collect on a $300 loan her great-grandfather made to the city during the Civil War. Of course, she also expects to be paid interest on the loan, and [...]]]></description>
			<content:encoded><![CDATA[<p>Collectors are persistent, but if this loan&#8217;s any indication, your people don&#8217;t know the half of it. <span id="more-125"></span></p>
<p>Joan Kennedy Biddle, a 77-year-old Tampa resident, is suing to collect on a $300 loan her great-grandfather made to the city during the Civil War. Of course, she also expects to be paid interest on the loan, and at 8%, the debt has grown to just shy of $23 million.</p>
<p>Biddle has a 147-year-old IOU that was signed by Tampa&#8217;s then-mayor. It promises to repay Biddle&#8217;s ancestor for the borrowed money used to purchase supplies to defend the city.</p>
<p>Tampa has come up with a laundry list of reasons why the debt isn&#8217;t valid. Topping it all off is that the money is payable in Confederate dollars &#8212; not exactly common (or usable) these days.</p>
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