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Americans started using the English, Spanish, and French currencies.The Massachusetts Bay Colony created the first paper money in the colonies.
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American colonists issued paper currency for congress to finance during the revolutionary war. However, the money didn't have a solid backing and therefor fell in value fairly quickly.
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Congress created the Bank of North America in Philadelphia. It was known as the nation's first bank
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Congress adopted the dollar as the first currency. At the time private bank-note companies printed a lot of notes.
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The federal monetary system was established with the creation of the U.S. mint in Philadelphia. The frist coins were released in 1793.
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With congress on the brick of bankruptcy the U.S. treasury issued paper money for the first time in a non-interest form.
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Paper currency first got the words, "In God We Trust," imprinted on them. All current currency now has these words on it in the United States.
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These were added to deter counterfeiting by advanced copiers and printers. The features first appeared on the $100, $50, and $20 bills in 1990. By series 1993, all of the bills except the $1 have this.
