US Currency Timeline

Timeline created by MackW in Business

Timeline Text view

Event Date:	Event Title:	Event Description:
02/03/1781	The Nations First Bank	The Continental Congress made the first bank in Philadelphia to give further financial support to the Revolutionary War.
02/03/1785	The Dollar	The Continental Congress adopted the dollar as the unit for national currency to replace the bank note.
02/03/1792	US Mint	The first US Mint was created in Philadelphia. The first American coins were struck in 1793.
02/03/1816	Second US Bank	The second US bank was created in Philadelphia as well and was granted a 20-year charter.
02/03/1836	State Bank Notes	Paper money printed out of state banks. Each state or bank has different colors and designs.
02/03/1861	Civil War	On the brink of bankruptcy and pressed to finance the Civil War, Congress authorized the United States Treasury to issue paper money for the first time in the form of non-interest bearing Treasury Notes called Demand Notes.
02/03/1862	Greenbacks	Demand Notes were replaced by United States Notes. Called greenbacks because of the green tint introduced to discourage photographic counterfeiting, they were last issued in 1971.
02/03/1866	National Bank Notes	National Bank Notes, backed by U.S. government securities, became predominant. 75 percent of bank deposits were held by nationally chartered banks.