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First Issue
Massachusetts Bay Colony, issued the first paper money to cover costs of military expeditions, which this practice spread to other colonies. -
Period: to
Changes
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Printing Firm
Franklin's printing firm in Philadelphia started printing colonial bills, with impressions from leaves, decreased counterfieting bills. -
Ban on Money
Britian ordered a complete ban on issuing paper money by the Colonies. -
Revolutionary War
Continental Congress issued paper money to fund the War, but were easily conterfieted and quickly lost their value. -
Bank of North America
First National Bank was chartered in Philadelphia. -
It's Official
The US adopts the dollar as the official currency. -
Bank
Congress chartered the bank of the US for 20-yr period and fell then in 1811 and knew that they needed a bank to perform the nation’s financial needs. -
Coinage Act
Coinage Act, established the federal money system. Set value of each coin is gold, silver and copper. -
Greenbacks
First circulation of paper money to fund the Civil War. Called the Greenbacks because of their color. Nicknamed "Greenbacks" for their color -
Control of Counterfeit
The U.S. founded the bureau of Treasury to control counterfeit money. -
Engraving and Printing
Treasury's Bureau of Engraving and Printing began printing all United States currency. -
Federal Reserve Act
Created as the nation's central bank. More responsive to the changing financial needs of the country. Issued new currency called the Federal Reserve Notes. -
Design
Change in all paper money, reduction in size and manufacturing cost. Decreasing the number of designs in circulation -
Black Thursday
Stock market CRASHED. Money was consolidated into the private bankers hands at our expense. -
Great Depression
The Great Depression Began -
In God We Trust
Required by law since 1955, U.S. money will have the motto "In God We Trust," printed on it. -
Change
First BIG change in 67 years to reduce being counterfieted. Bureau of Engraving and Printing would print new designs every7-10 years to stay ahead of counterfieting -
Integration
Protecting the dollar is done by homeland security and U.S. Secret Service is integrated into the Department of Homeland Security -
New $50
Has fine background colors with highlights from historic symbols. -
The Deal
Five of the biggest investment banks met with the SEC to allow voluntary exchange of themselves, AKA banks leverage ratio. -
Crash Again
Worst crash since the Great Depression. Effected people around the world, millions lost their homes, jobs, and retirement funds. Small banks were grouped with bigger ones and the biggest ones then lost competition.
