The president of the Confederate States of America, Jefferson Davis, is on the Confederate $50 bill. It was one of 70 different note denominations; the Confederacy never had enough metals on hand to issue coins, so paper scrip took its place.
Early in the Civil War, Confederate money was actually worth its face value. The quality of print was high, discouraging counterfeiting, and the citizens in the breakaway states had faith in the Confederacy. As the war dragged on, more merchants refused to take Confederate paper money, partly because the South was doing poorly and partly because, in order to raise funds, the Confederate government was printing more and poorer-quality money without backing. Rampant counterfeiting of the bills hastened its decline in value. By the end of the war, a Jefferson Davis $50 bill was worth about the same as a bar of soap.