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Before and after the American Revolution, Americans used English, Spanish, and French currencies.
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American colonists issued paper currency for the Continental Congress to finance the Revolutionary War.
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Oliver Pollock, a New Orleans businessman, created the money symbol.
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Bank of North America was chartered in Philadelphia to give support to the Revolutionary War.
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James Swan paid off the $2,024,899 US national debt.
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Congress authorized the United States Treasury to issue paper money for the first time because of the threat of bankruptcy.
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The Federal Reserve Act of 1913 establishes the Federal Reserve as the nation’s central bank and provides for a national banking system that is more responsive to the fluctuating financial needs of the country. The Federal Reserve Board issues new currency called Federal Reserve notes.
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The Federal Reserve Board begins issuing currency in $500, $1,000, $5,000, and $10,000 denominations.
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Currency was reduced in size by 25 percent, and a consistent design was introduced with uniform portraits on the front and emblems and monuments on the back.
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Paper currency was first issued with the inscription “In God We Trust”
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On July 14, 1969, the Federal Reserve and the U.S. Department of the Treasury announced that banknotes in denominations of $500, $1,000, $5,000, and $10,000 would be discontinued due to lack of use. Although they were issued until 1969, they were last printed in 1945.
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Newly designed $100 bills
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Newly designed $50 bills
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Newly designed $20 bills
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The U.S. Treasury introduced redesigned $5 and $10 bills to make counterfeiting more difficult. The new notes feature oversized pictures of Abraham Lincoln and Alexander Hamilton that are slightly off-center. Other anti-counterfeiting measures include watermarks that can be seen under a light, security threads that glow when exposed to ultraviolet light and tiny printing that’s visible with the help of a magnifying glass.