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MONEY
16th century mason's yard
When the East India Company was first set up in 1600 it owned £68,373. This was a huge amount of money for a relatively poor country like England. To put it into perspective, at this time a skilled craftsman like a stonemason or a carpenter could expect to earn around 7 pence for a day's work. It would have taken 100 stonemasons 64 years, working every day, to earn £68,373 between them. How much do you think it would cost today to buy ships and cargo and sail to the ot -
BANKING and MONEY
Elizabeth I’s reign produced a very wide variety of different denomination coins. The farthing would have been a very small coin, so a three-farthing piece was introduced to provide change from a penny for a farthing value purchase. The old, debased coinage from Edward VI’s reign were also revalued, giving some rather unusual values. -
CT's paper currency
paper currency -
Connecticuts currency
An emission of £2,000 in indented legal tender bills of credit authorized by acts in October and November, 1724 for the exchange of worn notes. The first emission of Connecticut notes was issued on July 12, 1709 from plates engraved in Boston by Jeremiah Dummer (an apprentice of John Hull). The plates were used to print an additional emission with a red AR monogram added to the front of the note and then for an emission redated May 1713 that was issued in two varieties, one had scrollwork on the -
Connectciuts currency in 1799
Opening in 1799, the script to allow passage was engraved by Thomas Doolittle in new Haven on paper furnished by the Hudson and Goodwin Company. Issues were signed by the president of the turnpike, at first this was James Hillhouse and later H. Baldwin. The issues were denominated in the decimal systems using cents and mills. This system had been adopted by the national government in 1792. The examples below are from a partial uncut sheet. Note shown are the two cents script for a horse, cow or -
Money in the 1800s
Alexander Hamilton, the first Secretary of the Treasury, conceived the idea of a central bank for the new nation. After the Constitution was adopted in 1789, Congress established The First Bank of the United States, giving it power to operate until 1811 and authorizing it to issue paper bank notes. The First Bank of the United States also served as the U.S. Treasury's fiscal agent, thus performing the first central bank functions in the United States. -
Banks in the US in the 1800s
The Second Bank of the United States functioned from 1816 to 1836. Both central banks were unpopular with those wanting easy credit--primarily the western agrarian interests--and in 1832, President Andrew Jackson vetoed the recharter of the Second Bank. -
Money
In 1940 a gallon of gas was 11 cents and by 1949 was 17 cents
In 1940 the average income per year was $1,725.00 and by 1949 was $2,950.00
Pork Loin Roast per pound 45 cents -
Money in the 1970's
In 1970 the average income per year was $9,350.00 and by 1979 was $17,550.00
In 1970 the average cost of new car was $3,900.00 and by 1979 was $5,770.00 Examples of Models andCar Prices in the 70's
In 1970 a gallon of gas was 36 cents and by 1979 was 86 cents -