-
The "Continentals" were printed as the first type of paper money in order to finance the American Revolution. They eventually led to inflation because too many were printed and distrubuted.
-
The money of the United States officially became the dollar.
-
First Bank of United States was established in Philadelphia by the urging of Alexander Hamilton.
-
The Coinage Act established the U.S. Mint.
-
Congress did not renew the First National Bank after the 20 years was over.
-
Second National Bank voted in effect by Congress.
-
Second National Bank was not renewed after 20 years.
-
The Free Banking Era begins. Banks issued their own notes that people could redeem for gold.
-
Allowed banks to settle accounts and exchange checks.
-
Nationally chartered banks were backed by the government. Uniform currency created because state bank notes were taxed and national bank notes were not.
-
The U.S. Secret Service was established to stop counterfeiting.
-
Allowed emergency currency to be issued during a crisis. It also established the National Monetary Commission.
-
Woodrow Wilson signed the Federal Reserve Act into law,
-
The Stock Market crashed, launching the nation into a depression.
-
Almost 10,000 banks failed from 1930-1933. First bank holiday was declared.
-
Established the Federal Deposit Insurace Corp. (FDIC). It also required
-
In order to stop counterfeiting, a security thread was printed on paper money.
-
The Secret Service and U.S. Department of Homeland Security are integrated in a larger attampt to control counterfeiting.
-
Different colors are used to print the note: blue, peach, and green.
-
The note now has blue and red colors, an American flag, and a silver-blue metallic star.
-
Has orange, yellow, and red colors, the torch of the Statue of Liberty, and "We the People."
