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Colonial Notes
The Massachusetts Bay Colony issued the first paper money in the colonies which would later form the United States. -
Revolutionary War
Millions of Continental dollars were printed, then after the revolution they were worthless. -
Congress Prints Money
Congress authorized the printing of $60 million of demand notes. Demand Notes. -
Silver Certificates
The Department of the Treasury was authorized to issue Silver Certificates in exchange for silver dollars. The last issue was in the Series of 1957. -
Currency Production Consolidated
The Department of the Treasury's Bureau of Engraving and Printing assumed all currency production functions, including engraving, printing, and processing. -
Federal Reserve Act
After 1893 and 1907 financial panics, the Federal Reserve Act of 1913 was passed. It created the Federal Reserve System as the nation's central bank to regulate the flow of money and credit for economic stability and growth. The system was authorized to issue Federal Reserve Notes, now the only U.S. currency produced and 99 percent of all currency in circulation. -
Standardized Design
Currency was reduced in size by 25 percent and standardized with uniform portraits on the faces and emblems and monuments on the backs. -
In God We Trust
Paper currency was first issued with "In God We Trust" as required by Congress in 1955. The inscription appears on all currency Series 1963 and beyond.
