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Americans used English, Spanish, and French currencies until the Massachusetts Bay Colony issued the first paper money in the colonies.
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Benjamin Franklin printed colonial bills with nature prints- raised impressions cast from actual leaves. It helped protect against counterfeiting.
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The Continental Congress gave paper currency to finance the Revolutionary War. Without solid backing and easily counterfeited, the bills quickly lost their value.
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The Bank of North America in Philadelphia as the first national bank
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The dollar was adopted as the money unit of the US
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Congress chartered the Bank of the United States for a 20-year period to serve as the U.S. Treasury's fiscal agent, until 1811, when Congress declined to renew the bank's charter.
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The Coinage Act of 1792 created the U.S. Mint and established a federal monetary system. Specified the value of each coin in gold, silver, or copper.
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the country had about 100 state banks
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The first general circulation of paper money by the federal government occurred in 1861. These bills acquired the nickname "greenback" because of their color. The first $10 bills were Demand Bills. A portrait of President Abraham Lincoln appeared on the face of the bills.
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authorized the Union government to print $150 million of US notes.
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Was established to oversee the issuance of National Banknote. It also established Federal guidelines for chartering and regulating "national" banks and authorized those banks to issue national currency secured by the purchase of United States bonds All state banks were forced to hoin the National Banking System in 1865
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The government issued paper currency back by gold placed on deposit with the United States Treasury.
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The United States Secret Service was established as a bureau of the Treasury for the purpose of controlling the counterfeiters whose activities were destroying the public's confidence in the nation's currency.
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Began printing all US currency
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The last paper money printed wih background color was the $20 gold certificate, it had a golden tint and a read seal and serial numnber
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US Government redesigned the $5-$100 bills to protect against conterfieting
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The $5 Bill was redesigned to help protect against counterfieting
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unveiled the new design for the $100 note. Complete with advanced technology to combat counterfeiting, the new design for the $100 note retains the traditional look of U.S. currency.
